An Indian abroad is popularly known to be Non resident Indian (NRI). Being migrated or living abroad, one way or another they are attached with the land of India and Indian people.

Looking to financial attachment i.e. holding of Bank Accounts and fixed deposit in India, Shares in the Indian Company, Immovable properties, balance in Provident Accounts, life Insurance policies etc. (collectively referred as “Indian assets”), when there are any transactions affecting such Indian assets, one cannot move ahead unless giving thought for taxation of Income involved in transactions and related regulatory compliance while transfer of fund to/from India. These transactions require certain care so as to not ending up with huge Tax liability or penal consequences including prosecution.

We, SANGANI & Co., keeping in mind need of Indians residing in Dubai, have stepped forward to provide professional services, which will take care of all the requirements of Income Tax Laws and Foreign Exchange Laws prevailing in India. Our services are;

   1)    TAXATION SERVICES

      A)         Filing Return of Income to comply with Income Tax Act 1961.

       B)       Tax Exemption Certificate for;

• Receiving the benefit of tax deduction at NIL or lower rate, from interest income from NRO A/c,
• Claiming tax deduction at appropriate rate on Sale of Immovable property,
• Obtaining benefit of set-off of capital losses on sale of Investments against income of subsequent period etc.

        C)     Obtaining PAN Number:

PAN is mandatory for transacting in financial markets in India . (viz., Opening NRO Bank A/c., Investment in shares, Mutual Funds, filing Return of Income etc.)

        D)   Determining and planning Residential Status so as to get maximum tax benefit.

         E)  Advising on claming DTAA Benefit for minimizing the tax liability and assistance in preparing and furnishing required set of documents to the Bank/Payer.

         F)  Advising on various tax matters and attending tax Notices and appeals proceedings.

     2.  FEMA RELATED SERVICES

     A)     Repatriation of

• Current Income
• Funds/Assets upto USD 1 million per financial year and
• Funds/Assets by taking RBI permission

     B)     Organizing and advising Returning Indians/Recent Immigrants on FEMA issues in relation to assets in India and outside India & Planning on Taxation of Income and Wealth before/while returning to/leaving India respectively.

     C)    Advising and organizing documentation for Borrowing and Lending in India and giving and receiving Gift in India

      3. SPECIALIZED SERVICES

       A)       Advising, planning and assisting in completing the whole procedure for Business SetUp in India such as;

• Limited Liability Company;
• Partnership Firm having limited/unlimited liability;
• Proprietary Concern having unlimited liability;
• Branch/Liaison Office of Foreign Company

       B)       Formation of Tax Efficient Entities

       C)      Executing and registering Power of Attorney, Wills and other legal documents