Why NRIs With Foreign Businesses Need Expert Tax Advice Before Returning
The idea and intent of returning to India after years abroad can evoke a mix of feelings. While it's exciting to return home, there are also a few things to take care of. The transition from abroad to India involves much more than relocation. Especially for those doing business overseas and planning to shift to India, they have to carefully review their logistics, as this requires meticulous tax planning. While it can be overwhelming to handle it all and to avoid unexpected liabilities, for this transition, an NRI returning to India with tax implications needs an expert tax advisor by their side. This blog explains why expert tax advice becomes essential before making the move back home. Change in Tax Residency Status Can Trigger Global Taxation One of the significant shifts for NRIs returning to India is a change in their tax residency. Income received or earned in India is taxed as an NRI. However, once you become a resident of India, under Indian tax laws, your gl...