Repatriation & FEMA – G.P.K. Tax Consultants
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Repatriation & FEMA

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Repatriation & FEMA

The status of a person as a resident or non-resident depends on his period of stay in India. The period of stay is counted in number of days for each financial year beginning from 1st April to 31st March (known as previous year under the Income-tax Act). The definition is explained in simple terms as under.
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Liberalized Remittance Scheme

Liberalized Remittance Scheme LRS is a scheme introduced for all resident individuals including minors to remit outside India for all the permissible Current / Capital account transactions up to USD 250,000 per financial year (April-March) per person (including minor individuals) without RBI permission. If an individual has already remitted any amount under ...
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Recent Immigrant

Recent Immigrants:   All kind of assets in India such as properties, bank deposits, stocks and securities, life insurance policies, loans, company deposits, debentures, bonds etc. acquired, held or owned by an NRI while he was in India can be continued to be so held and deal in any manner ...
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Returning India

Returning Indian   INCOME-TAX ACT, 1961 (THE “ACT”)  Under the Indian Tax Laws overseas income is liable to Tax in India only if the assessee is an ordinarily resident. A returning Indian who has been a Non Resident for 9 years or more, then for 2 successive years he shall ...
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Feedback From Our Clients

Words from our trusted clients

  •  I am extremely happy the way you handled my last year and this year's return and that too without even asking you. You are very young but I can see a spark of excellence in you and that is going to take you to greater heights. Do well and my best wishes to you always !!!! You are a real Jewel , always prompt, meticulous and very efficient. It will be always my pleasure to refer you to my contacts.

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