CA Abhinav Gulechha

Category: Uncategorized

  • NRI Tax Return Filing Mistakes & How to Avoid Them

    Tax return filing is not a complex work. It requires you to have a “fair” (not expert) understanding of tax laws applicable to you, your residential status for the year, any new changes brought about by the Finance Act etc. Also, my view is that an NRI with no taxable income should also keep filing…

  • Taxability of salary received by an NRI seafarer in India

    Seafarers are a category of professionals who face a lot of challenges regarding taxability of income, because of the nature of their work that requires them to be in international waters for a significant period of time and as a result, makes them classified as a non-resident as per the Indian tax residency rules (Also…

  • Taxation of ESOP/ESPP/RSU/SAR in India

    Employee Stock Option (ESOP) Employee Stock Purchase Plan (ESPP)/Restricted Stock Units (RSU)/Stock Appreciation Rights (SAR) have become one of the most common forms of executive compensation over the past decade. It started from Information technology sector and gradually spread to other sectors as well.  While the 2009 change in Income Tax Act (ITA) has clarified…

  • NRO, NRE, FCNR, RFC: Tax and FEMA Implications for Returning NRI

    For an NRI it is a pain to understand the tax nuances for non-resident accounts. Situation becomes more troublesome when he returns to India as the taxation differs as per the residential status. In this post, I am offering a detailed overview of tax and FEMA compliances and implications on various accounts. Also, as far…

  • Taxation of UK pension in India

    There’s a good chance that an NRI returning from UK has an accumulated pension in UK and there’s a need to understand tax and associated implications on that particular income in India to be compliant with the Indian laws. In this post, I will be sharing insights on taxation of UK pensions in India as…

  • Tax & Compliance Guide on USA Social Security Benefits on Return to India

    Many people who go to USA for employment end up settling for a longer duration and take up citizenship of USA. During their time in USA, they are required to contribute towards social security in the form of tax. When these people return, they are usually eligible to the periodic social security benefits after a…

  • Taxation of employee benefits received by expats working in India

    For an expat working in India, one can see a pattern of salary components as follows: In such cases, there is a strong possibility that the Income Tax Department would want to tax all the above amounts as perquisite in the hands of the employee, going by the plain wordings of Section 15 to 17…

  • TDS rules for NRI investments

    Under the Indian Income Tax Act, Section 195 contains a mandatory requirement of Tax Deduction at Source (TDS) for any payment to a Non Resident Indian (NRI) as per the rates in force at that point in time.  One reason for this is that in case of non-residents, the income tax department want to be…

  • Guide on TDS implications for NRIs

    Today let us discuss about TDS on payment to NRI. To give a brief overview, we have Section 195 of the Income Tax Act which deals with this issue, and that section says that ANY payment to a non-resident attracts TDS at the rates in force. There are a lot of complexities in that section…

  • Guide to Liberalised Remittance Scheme (LRS) of RBI

    Till the time you are non-resident, RBI is not concerned what you do with your foreign earnings, where do you send it etc. But once you become a resident, there are restrictions on sending money outside India, as India still does not have a full capital account convertibility. In this regard, there may be a…