How to Plan Your Tax and Investment Strategy If You’re Returning to India
After many years of working abroad, non-resident Indians may decide to return to their country. However, as thrilling as it may sound, returning to India after spending time abroad, there are financial dilemmas and complexities that you might need to deal with. To ease the process and make financial management hassle-free, you can hire a financial advisor and tax consultant to help navigate taxes and investments in India. When you have spent years building the fortune you have, ensure you plan carefully to avoid losing money to poor investment choices, compliance mistakes, or double taxation. This blog will help you plan your tax and investment strategy if you are returning to India. Understand tax residency status The number of days you spend in the country during a financial year decides your residential status in India. Your tax liability depends on your residential status. If you are an NRI, only your income received or earned in India is taxable. If you have been an N...