NRI Return to India Consultancy

In an increasingly interconnected world, many Indian citizens explore opportunities abroad for work, education, or business. Non-Resident Indians (NRIs), along with Persons of Indian Origin (PIOs) who have acquired foreign citizenship, and Overseas Citizens of India (OCIs), often maintain strong connections with India. Many choose to return to the country for personal or professional reasons. Similarly, foreign nationals may relocate to India for employment or business purposes. Understanding Indian laws on income tax, foreign exchange regulations, and financial planning is essential for a smooth transition.

At Jethani & Associates, we provide specialized consultancy services for NRIs, OCIs, PIOs, and foreign citizens planning to return to India. Backed by over 25 years of experience, our experts offer comprehensive guidance to ensure regulatory compliance, maximize tax efficiency, and simplify financial planning for a seamless resettlement.

Comprehensive Services for NRIs, OCIs, and PIOs Returning to India

1. Strategic Tax Planning for Your Return

Assistance in planning your return date and month to reduce tax liability for the financial year (April to March).
Advisory on obtaining the most favorable residential status under the Indian Income Tax Act, 1961.
Structuring foreign income to take full advantage of Double Taxation Avoidance Agreements (DTAA).

2. Foreign Tax Credit (FTC) Support

Expert guidance in claiming FTC for taxes paid abroad.
Filing and compliance assistance for Form 67 to report and claim foreign tax credit in India.

3. Bank Account Conversion & Management

Guidance on converting NRO and NRE accounts into Resident Savings Accounts.
Advisory on converting FCNR deposits to Indian Rupee or Resident Foreign Currency (RFC) accounts.
Assistance in opening RFC accounts to manage foreign currency earnings after your return.

4. Repatriation of Overseas Assets

Full support in repatriating assets to India in compliance with regulations.
Facilitation of RBI clearances under FEMA for managing overseas assets.
Assistance with reinvesting proceeds from the sale of foreign properties or assets in India.

5. Advisory on International Investments

Guidance for USA-based NRIs on managing investments like 401(k) accounts.
Insights on optimizing returns and minimizing taxes from overseas investments.

6. Compliance with Indian Tax Laws

Filing Indian income tax returns, including reporting foreign income.
Assistance with PAN applications for individuals without a Permanent Account Number.
Advisory on annual financial disclosure requirements.

7. Financial Account Re-designation & Streamlining

Re-designation of Indian bank accounts to reflect your updated residential status.
Ensuring smooth documentation updates across all financial instruments.

8. Customized Financial & Tax Planning

Tailored advisory for managing tax obligations in India and your previous country of residence.
Guidance on transferring wealth, including real estate, stocks, and investments, to India.
Identification of tax-saving instruments to optimize wealth under Indian law.

9. FEMA & RBI Clearance Facilitation

Assistance in navigating FEMA regulations for retaining or liquidating assets abroad.
Guidance to meet RBI requirements for properties, bank accounts, and investments.

10. Indian Income Tax Return Filing

End-to-end support for filing income tax returns in India.
Advisory on deductions, exemptions, and rebates to reduce tax liability.

Our Services for NRIs Returning to India

Planning your return date and month to minimize tax liability for the financial year (April to March).
Claiming Foreign Tax Credit (FTC) and filing Form 67.
Conversion of NRO and NRE deposits into Resident Savings Accounts.
Conversion of FCNR (Foreign Currency Non-Resident) accounts into Indian Rupee or Resident Foreign Currency (RFC) accounts.
Advisory on investments such as 401(k) for USA-based NRIs.
Compliance support for repatriation of assets to India.
Guidance on re-designation of all Indian bank accounts to reflect new residential status.
Assistance in opening Resident Foreign Currency (RFC) accounts.
Compliance with the Indian Income Tax Act, 1961, including PAN application support if you do not have one.
Facilitation of FEMA clearance from RBI to continue holding assets outside India.
Support for reinvestment of proceeds from sale of overseas assets.
Strategic planning of tax liabilities in India and the country of previous residence.
Assistance in filing Indian Income Tax Returns.