#NRI tax consultant in Dubai

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NRI tax consultant in Dubai

When it comes to managing your taxes, you deserve the best NRI tax consultant in Dubai. Nriadvisory Services is committed to delivering top-notch tax consultancy services for NRIs, ensuring that you get the most out of your financial planning. Our experts provide personalized advice, helping you navigate the complexities of tax regulations in the UAE. With a focus on accuracy and compliance, we make tax filing seamless and stress-free. Partner with Nriadvisory services for reliable, efficient, and effective tax solutions, tailored to your unique circumstances. Experience excellence in NRI tax consultancy with us.

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Non resident taxation in India

Ajay Sawhney Associates is a NRI Tax Advisors in Delhi, offers NRI Taxation Services in Delhi, Non Resident Indian Taxation in India, NRI Tax Consultant Services in India, Dubai, UK, USA. Visit http://www.nonresidents.in/nri-taxation-services.htm

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Alankit Management Consultancy: Conditions for NRIs to File Income Tax in India

With the world going digital and emergence of online services, it is no more difficult for the NRIs to file income tax return in India.  With the help of the professional advisory services, NRIs can easily file an income tax return for claiming the refund while submitting the necessary documents to the concerned authority. Here are some conditions to know before filing a return.

When do you need to file return income?  

You can file an income tax return in India if your income exceeds INR 250,000 and is known as the basic exemption limit.  In case, your taxable income is less than this limit but the exempt income is more than the given limit, you still have to file the income tax return.  If you have no other income except the exempt long term capital gains (for example- 550,000), you still have to file the income tax return because your long term capital gains (excluding the exemption) is more than Rs 250,000.

Are you required to provide the details of bank interest or post office interest?

Yes, you are required to provide such details because such interests are taxable.  If such interest happens to be exempted under section 10 of the Income-tax Act, then you are not required to provide such details. On the contrary, if Form 15G/15H has been filed then you may have to provide the details of bank interest or post office interest provided the earning is not exempted under the section 10 of the Income-tax Act and total income is more than limit of non-taxable income.

Are you required to provide the details of exempt income?

Interest on tax-free bond, long-term gain on listed securities, interest on NRE/FCNR deposit, are all types of exempt income.  Such exempt income details must be shown despite no tax impact as per the exempt income schedule.

Are you facing trouble with filing an income tax return? Then you may consult top-notch accounting companies in Dubai like Alankit Management Consultancy.  Alankit is popular for offering wide range of e-Governance and financial services. They will save you from penalty due to compliance issues from the income tax department. They also help you during loss of PAN number and other important documents without which you can file income tax return.

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Why Should You Hire Business Service Provider in Dubai?

There are plenty of benefits of hiring business set up consultants in Dubai. You can ensure quick company registration, license approval and avail reliable partnerships.

If you are planning to set up your own business in Dubai, then congratulations!

Setting up a business in Dubai is the most profitable investment. It is easy to expand and grow your business in Dubai because it is a high-tech city.

Dubai offers world-class infrastructure, excellent opportunities for foreign trade, a tax-free lifestyle, and incredible communication and transportation facilities.

Before proceeding to business set up you must consider certain factors. Do you think you have a strong business plan? Are you sure your products have strong acceptance in the target market? Are you well aquatinted with the legal formalities in Dubai?  

If your answers are no, then it is time to consult Dubai Setup a premium business service provider. The company has more than 10 years of experience in helping clients across domains with company formation.  Their professional services include business license approval, license renewal, company relocation services, local sponsorship, Visa approval, Emirates ID typing, company registration and so on.

Read on to know how Dubai Set up can help your business grow.

Five benefits of hiring business set up services in Dubai

1.       Business set up a plan

The extensively trained and dedicated experts at Dubai Setup will provide you with the right guidance and relevant information. They will come up with a strong business plan that will aid in smooth execution, consultation, the fulfilment of legal and banking formalities.  

2.       Choose a profitable zone

There are many onshore and offshore company formation zones in Dubai. Each zone has its own benefits and equipped with wonderful business startup facilities. Business experts at Dubai Setup will analyze your business mission and vision to select the right location for your company registration. They will give you exact information so you can better decide the pros and cons of starting a business in a given zone. The business set up consultants with a thorough knowledge of the UAE market will help you figure out the most profitable zone for you.

3.       Company structure

Dubai Setup experts help you develop legally implied business structure considering your business goals and objectives. Share your goals and kind of business activities you want to perform. Different business activities contribute to the economic development of the UAE in different ways. So, each business type has different legal procedures to fulfil. The experts at Dubai Set up will classify your business based on the activity and let you know what permissions are required for license approval.

4.       Company registration

UAE mandates having local sponsorships for company formation and this rule is applicable to NRIs and other foreign nationals. The Dubai Setup experts will finalize on the requirements for sponsorships and partnership. With vast experience, expertise and strong network across UAE, these professionals will help you connect with a reliable partner for smooth flow of your business.

5.       Assistance with Legal formalities

The company formation experts will provide relevant information on UAE legal structure. So, you will gain clarity on how the government agencies regulate business in Dubai and the criteria for trade license approval.  Accordingly, you can compile the necessary documents and complete the paperwork for setting up a company in Dubai.  

As you can see there are plenty of benefits of hiring company formation consultants in Dubai. Not only they provide you with relevant and authentic information about Dubai business and legal structure but assist in a quick and hassle-free business set up.

By taking help of Dubai Setup you can avail comprehensive solutions to avoid unforeseen circumstances.   They are reliable consultants offering affordable services using diverse fund resources. They have been helping national and international consultants for business expansion in UAE for many years. Committed to being the best, they ensure low turnaround time, quick-fix solutions, prompt service and impeccable results, which helped their company grow in stature.  Contact them via http://dubaisetup.net/ to share your concerns.

Hire the best and fulfil your business dreams!

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Avail National Pension Scheme for Steady Income in the Old Age

Are you saving enough for your retirement? Are you looking for any beneficial scheme that will secure your old age? Then it is time for you to consider the National Pension Scheme (NPS), a popular pension plan for stable income after retirement.  

Why is NPS beneficial?

In India, NPS has created a big buzz because you can invest a very nominal amount on a regular basis. It means you can choose how much amount you want to keep aside for saving.  NPS is beneficial because it gives individual amazing tax benefits and high returns. You are free to pick your own investment plans. The scheme also gives you the flexibility to choose your fund manager.

NPS scheme is highly popular in India because Indians can access this scheme from any part of the world. The scheme is great for NRIs in Gulf countries as they are not allowed to stay there after retirement.  So after returning India post-retirement, you can have all the money you want.    

When you Subscribe for NPS you will get a total tax deduction of up to Rs. 2 lakh.  You can enjoy high returns by investing in various asset classes such as corporate bonds, equities, and government securities. It will you grab high returns on maturity depending on the volume of contribution.

Hopefully, you are now convinced that NPS is a beneficial and lucrative retirement plan.  Do not you want to sit and enjoy these benefits in your old age.  

If you are NRI in Dubai planning to subscribe for NPS, then take the help of e-Governance services. You need not visit India for reaping the benefits. Hire Alankit Management Consultancy, a top-notch audit firm in UAE, and you can track everything related to your National pension scheme (NPS) account online. Right from registration to investment and beyond you will get all the guidance. Contact them now!    

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NRIs Tax Evaders in Gulf on Income Tax Radar

India’s efforts to track down NRI tax evaders could soon see officials monitoring the funding flows of nationals living in Gulf countries.

“Some of the leading Gulf cities such as Dubai, Abu Dhabi, Bahrain [Manama] and Doha are major financial centres that are increasingly attracting Indian money that is leaving Swiss banks”

“In many cases these funds reach Gulf cities in the form of seemingly-legitimate investments.”

Indian government has drawn up a plan to track the suspicious financial dealings of non-resident Indians in close cooperation with respective foreign governments.

The government has already posted eight senior IRS officers in newly-created income tax overseas units in countries like the US, the UK and the UAE as part of efforts to trace illegal funds hidden away by NRIs, breaking the NRI tax rules.

These tax officials will function from the Indian missions in Washington, London, Berlin, Paris, The Hague, Abu Dhabi, Cyprus and Japan.

“The expansion of information exchange network at the international level will help in curbing cross-border flow of illicit wealth”

“It’s a long enough time for most to cover their tracks and move money to safer destinations.”

Although there are no official figures on the illicit funds, estimates by various sources say the total amount could be in the range of $1.5 to $2 trillion (Dh5.5 to Dh7.4 trillion). A significant portion of this money is believed to be in Switzerland.

Despite the new tax treaty India signed with Switzerland, analysts say it is unlikely that the Swiss banks will give away any details of the coded accounts that existed prior to January 1, 2012 when the treaty came into effect.

Analysts say India’s war on black money is likely to be a damp squib as many of the cross border fund movements are within the existing regulations.

A typical transaction to move money from Switzerland involves buying a shell company in a tax haven. Under the liberalised remittance schemes Indians can make investments up to $200,000 a year per person. This allows the Indian resident to hold shares of a paper company while having an account with a bank abroad.

Then the illicit money in coded accounts can be transferred to these companies in the form of trading income or earnings from consultancy services. The money can eventually flow back to India in the form of a legitimate foreign direct investment or portfolio investment.

With hundreds of thousands of NRI-owned businesses in the Gulf and the Far East, NRI tax evaders could use these businesses as conduits to escape the prying eyes of the taxman.

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Why it is important to file ITR on time?

Why it is important to file ITR on time?

The income tax department has made the process of filing of Income tax return extremely convenient for taxpayers by introducing the online facility. This e-filing facility is speedy and accurate, and provides convenience not just for local residents in India but non-resident Indians (NRIs) as well.Tax consultant Dubai and authorised intermediaries offer services for electronically filing I-T returns on behalf of taxpayers, under the Electronic Furnishing of Return of Income Scheme, 2007. A registered e-return intermediary, Alankit Limited has over 13 years of industry presence in the UAE and offers professional ITR filing services.

When should taxpayers file their returns?

The last date of filing of income tax return (ITR) for a financial year, say, 1st Apr 2018 to 31st March 2019, is 31st July 2019, unless extended by the I-T department. Taxpayers can e-file their tax returns any time before the specified date.

Avoid penalty

If taxpayers do not submit their income tax return (ITR) on or before the deadline, they are liable to pay a penalty of up to Rs 10,000 for late payment. If they file their returns after 31st July and on or before 31st December, they are required to pay Rs 5,000 as a penalty. Also, in case taxpayers file their returns after 31st December, the penalty levied on them will be Rs 10,000 which is applicable for those who have taxable income of over Rs 5 lakh. If the taxable income of taxpayers is up to Rs 5 lakh and they have delayed their ITR process, they must pay a penalty of Rs 1,000.

Avoid one percent monthly interest

Besides the penalty stated above, taxpayers must file income tax return (ITR) in order to avoid additional interest charges. By not making timely payments and having tax dues, taxpayers need to pay 1 percent penal interest on the tax amount which is due. This is in addition to a higher penalty of Rs 5,000 or Rs 10,000, whichever is applicable.

Avoid last-minute hassles or stress

Although the online facility makes things a lot easier for professionals, yet, the task of e-filing should not be done at the last minute. This is because the chances of errors or missing out on one or more tax savings which were due to you could become higher. Moreover, a taxpayer gets enough time to arrange relevant documents viz. TDS certificates, loan repayment statements, interest certificates, Form 26AS, etc. Also, one should try to e-file early in order to avoid heavy website traffic.

Avoid mistakes

work to support taxpayers who usually tend to make mistakes in terms of overlooking income, extra tax paid or missing important tax benefits. Revising the returns after the due date is not possible. Such mistakes can often result in fines imposed by the IT Department or loss of tax refunds. Thus, taxpayers must ensure they file their well in advance so that they have sufficient time to file the revised returns any time before the end of the current financial year. This means, if a taxpayer has filed his or her returns by 31st July 2019, he or she can file the revised returns any time before 31st March 2020.

Avoid interest loss on refunds

When taxpayers file within the due date, the interest accrued on refund would be calculated from 1st April of the Assessment Year to the date at actual processing of refund amount is done. But, in times of late filing by taxpayers, the interest would be computed from the actual date of filing up to the date at which refund was processed. This would result in interest loss of about four months from April to July leading to a substantial loss in case of large tax refund due to a taxpayer.

In order to ensure financial discipline, it is highly recommended to file income tax return well before the specified due date.

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Xtramile concultancy are among top ten consultancy companies in dubai- providing services of indian tax laws consultants in dubai, finance consultants in dubai, professional training consultants in uae and corporate training companies in dubai UAE and GCC countries.

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 NRI tax consultant in Dubai

Finding the right NRI tax consultant in Dubai is crucial for managing your financial affairs effectively. Nriadvisory Services offers expert tax consultation services specifically designed for NRIs. Our team of skilled professionals is well-versed in UAE tax laws and can provide you with personalized strategies to minimize your tax liability. We take the stress out of tax planning and filing, ensuring that you meet all compliance requirements. With Nriadvisory services, you receive not just advice but actionable solutions tailored to your needs. Choose us as your trusted NRI tax consultant in Dubai.

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Best NRI Taxation   in India       

            Ajay Sawhney Associates is best NRI Taxation  in India, offers NRI Taxation Services in Delhi, NRI Tax Consultant Services in India, UAE,USA. 

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Let business consultant help you with quick License Renewal in Dubai

Tax-free lifestyle and world-class infrastructure in Dubai attracts every budding entrepreneur. The investor-friendly nature of Dubai is what attracts people to set up their business here. Once started an investor can grab immense opportunity to take the business to a global level.  

Dubai has an open economy and high per capita income and gives one 100% ownership on business. Dubai has cut-throat competition and the government is a little stringent when it comes to granting in trade licenses to NRIs and other foreign nationals.

You can easily get away with this arduous process with the help of the business consultants in Dubai.  These experts or business service providers assist clients across domains to meet their business needs.  

Professional services for license approval  

Depending upon the business category there are different types of trade licenses available in Dubai. Industry trade license is a must for people engaging in manufacturing activity.  If your business deals with import and export of goods you need commercial trade licenses. Else, you may apply for a professional trade license if you are into consulting or art or any other service sectors.

Getting approval for trade licenses is a daunting process because UAE Central Bank exclusively approves licenses for finance company formation while UAE Ministry ensures license approval only for setting up the pharmaceutical businesses.

 License approval is the daunting process requiring a set of documents and compiling all the authentic details of your business. You need to run around government and legal bodies and ensure there are no discrepancies with your documents.  

 Let Dubai Setup help you

 Dubai Setup is the top-notch company for the business set up services in Dubai. Their well-trained experts with years of experience in this field come up with quick and handy solutions for fast license approval and license renewal in Dubai.  Whether it is a free zone license, professional, commercial or tourism license, Dubai Setup has low turnaround time.

 Nurtured in the field of business services for more than 10 years, Dubai Setup ensures comprehensive help, prompt services, reasonable charges, quick results. Call today and share your concern!    

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VAT Refund Services in Dubai, UAE

UAE has implemented the VAT refund system where NRIs purchasing any item from the participating retailers can access refund. NRIs in the UAE can access the retail outlets with the tax return points. You can claim the refund if the purchased goods are not exempt from the tax system through the designated outlets for the refund.

VAT refund process

You have to collect a tax-free form from the customs office when buying the goods and submit the same at the customs desk when returning to India for clearance. This is a simple and easy process for NRI tourists in the UAE, but daunting for NRI entrepreneurs who need to buy goods in bulk.

When NRIs buy goods in bulk amount in UAE for personal business, they may have to go intense verification process. They are required to meet certain criteria to claim the VAT refund. Complying with the VAT laws in UAE is difficult for NRIs, which hampers their business transactions.  Here comes the role the of VAT service providers in UAE, who provide apt solutions for your smooth business transactions.

Take help of the professional VAT services

Not complying with the VAT laws may hamper the business transactions. Hire Alankit management consultancy for VAT advisory services. Alankit is the registered and licensed company in Dubai providing swift and hassle-free services related to VAT. They help various businesses to meet the VAT needs by assisting with VAT registration, VAT filing, VAT refund, VAT accounting and other excise tax services.

The team of Alankit has vast experience in diverse industries’ international tax experience. Connect with Alankit for VAT advisory services and ensure compliance with the latest rules and regulations in UAE.

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Take Guidance from Alankit to Resolve VAT related Issues in Dubai

There are several businesses in UAE that are still facing problems associated with VAT compliance as well as implementation. It becomes even more difficult for the Non-Resident Indians in UAE to comply with VAT laws that hinder business transactions. However, with the help of VAT, you may come up with business solutions as well as overcome VAT issues effectively.

In fact, the new VAT refund scheme introduced in UAE helps all the retail outlets to access tax return points. If you a business owner purchasing any item from the participating retailers, you may claim the VAT refund via diverse designated outlets for refund. However, your purchased items should not be exempted from the tax system.

There are a few steps you need to follow to claim refund as a buyer. For example, you should collect tax-free form from the clients’ office while buying the goods. Make sure you should submit this form at custom-desk and then you should proceed with clearance while returning to India.

Undoubtedly, these steps seem to be easy and also simple for the purchasers who are Non-Resident Indians and also for purchasing goods in a lesser amount to take it to India. However, this procedure seems to be a little bit complex for the NRIs entrepreneurs who can purchase goods in huge amount for their business. UAE mandates intensive verification procedure for the NRI entrepreneurs whenever they wish to claim the refund.

By taking help of expert VAT consultants in UAE, you may also get through verification in a smooth way. These professionals offer trouble-free VAT solutions including VAT implementation for business, VAT filing, registration, refund and many more.

If you look out for expert’s help in this matter, then you should get in touch with the best audit firm in UAE for any type of VTA consultancy. One such leading audit firm is Alankit that offers trouble-free as well as affordable VAT advisory solutions. These experts with huge experience in industries’ global tax experience allow businesses to cater to VAT compliance needs. Hire one of the best audit firms in UAE and resolve your VAT related issues.

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File Your ITR with the help of Alankit audit firm

Submitting Income Tax Return or ITR is a very hectic job. There are many factors to consider like which ITR form to fill up - ITR 2 or ITR6 and others. Not adding up correct values or delay in filing ITR may lead to a hefty fine.

It is mandatory for NRIs in UAE to file ITR in India if the income is more than Rs.2, 50,000.  Accurate filing of ITR will improve your credibility.  You can easily establish yourself as a genuine citizen. Moreover, you can carry forward any losses during the last financial year by submitting ITR on time.  In addition, you can prevent loss of money or tax penalty.  

There are many audit firms in Dubai providing reliable, hassle-free and professional guidance to help businesses handle ITR and tax-related issues.  If you are confused about the correct procedure to file the ITR, you should consider hiring an audit firm.

If you are looking for a trustworthy audit firm for ITR relate services, then Alankit Management Consultancy is the best option for you. It is one of the top audit firms in Dubai, UAE for more than 20 years. It is popular for impeccable client services and apt solutions to solve issues related to income tax filing. You can also avail here tax accounting and auditing services. These services will also help you maintain true financial status and easily access bank loans when in need.

Alankit also helps with VAT, National Pension Scheme, document attestation and PAN card applications for ease of NRIs in UAE. Their services are reliable and affordable.  Hire Alankit Management Consultancy to stay tax compliance.

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Top audit firm in UAE provides hassle-free Aadhar card services for NRI

Today many NRI in UAE are struggling with the loss of Aadhar card, daunting Aadhar registration process, and delay in upgrading new details in the existing Aadhar card.  However, there are audit firms in UAE helping people with quick registration process by providing the e-Governance services.

These online Aadhar services make it hassle-free for masses to obtain the Aadhar card either new or the old one with new information. You should consider taking help of these services because they are handy and convenient to retrieve any lost document or complete the arduous job of Aadhar enrollment.

Why should you opt for Aadhar services in UAE?

Aadhar service consultancies in UAE have a wide PAN India network in India. They have a good collaboration with the banks and different state government centers, which help them, enroll Indian nationals in foreign countries under the Aadhar scheme.

If you hire these services, you do not have to run after the government officers to complete the paperwork. Instead, these agencies help with-

• Fresh enrollment for Aadhar card • Compile documents such as birth certificate, Aadhar card application form, PAN card and others • Rectify errors in existing Aadhar card • Update new information in Aadhar card such as a change in address • Recover the lost Aadhar card

What is the best agency for Aadhar service in UAE?

On the list of the top agencies, Alankit Management Consultancy is the best audit firm in UAE offering affordable, reliable and excellent Aadhar services. The popular consultancy is helping clients for more than 20 years with a range of e-governance services such as Income Tax return (ITR), PAN services, Value Added Tax (VAT), New Pension System (NPS), certificate attestation, Demat and Dubai Gold & Commodities Exchange (DGCX). Impeccable services and 100% customer satisfaction are the motto of the company.

Contact Alankit Now and resolve your Aadhar issues!

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The Best CA Firm for Affordable PAN, ITR, and NPS Services for NRIs in UAE

Non-resident Indian or NRI in UAE, whether an employee, investor or entrepreneur require services for handling issues related to Permanent Account Number (PAN) card, National Pension Scheme (NPS) in India, and filing Income Tax Return (ITR).  There are many consultancies in UAE offering e-governance and financial services to ease out the work of NRIs.  You no more have to travel back home, if you have lost your PAN card in Dubai, missed the deadline for filing ITR, or want to apply for NPS. If you are in need of any such help, then you should consider hiring well-institutionalized organization. As per personal experience as NRI in Dubai, UAE, it is the right choice to avail the services of Alankit management consultancy. Alankit is one of the best Chartered Accountant (CA) firms in UAE.

What is the need of PAN, ITR, and NPS for NRIs in UAE?

NRIs with income exceeding NR 250,000/ is required to file ITR in India.  It is useful for claiming the refund on time, or for submitting the ITR details to any higher authority in UAE. It is also useful for carrying forward any loss due to business.  ITR is beneficial for securing money as retirement corpus and accessing loan facilities.  In order to receive any taxable salary in India an NRI must hold PAN card. It is a ten-digit alphanumeric number vital for any financial transaction, opening bank account or buying/selling assets. PAN card saves a by preventing any kind of tax evasion. NRIs are also eligible for NPS whether working in the public or private sector. You can develop funds for your later life by investing a certain amount of money today.  The process of application is quite daunting, as one must compile huge set of documents. Hiring professional services is must to save time!

How does Alankit management consultancy help you?

Alankit is more than two-and-a-half-decade old organization in UAE, offering quick, cost-effective and handy solutions related to NPS, PAN, ITRs and VAT for NRIs.  You can also avail certificate attestation services and support for physical trade of gold and other metals.  With 25 years of existence in UAE, Alankit has gained strong market experience. Their accountants, auditors and tax consultants help NRIs with updated information on the latest UAE policies. The experienced professionals offer practical and proficient solutions related to finance, e-governance, healthcare, and insurance broking.  Visit them with any query and you will surely get 100% satisfaction.