Recent Immigrant Services
Table of Contents
Recent Immigrant Services – N.D. Savla & Associates
When an individual first moves abroad and becomes a Non-Resident Indian (NRI), their financial, tax, and regulatory obligations change significantly. As a recent immigrant, you need to restructure your Indian accounts, investments, and income reporting in line with the Income-tax Act, FEMA regulations, and RBI guidelines. At N.D. Savla & Associates, we provide specialized advisory to help you manage this transition smoothly.
Overview
The year you move abroad, your residential status under the Income-tax Act shifts from Resident to Non-Resident or RNOR (Resident but Not Ordinarily Resident), depending on the number of days stayed in India. This determines whether only your Indian income is taxable or if your global income also comes under Indian tax. Alongside, FEMA requires you to convert your resident bank accounts into NRO/NRE accounts and regulate your investments.
Features
Advisory on residential status determination for first-time NRIs
Assistance in converting resident bank accounts to NRO/NRE accounts
Tax filing support for the year of migration (transition year)
Guidance on NRI investment structuring under FEMA
Advisory on use of DTAA (Double Taxation Avoidance Agreements) for reducing tax burden
Compliance for property, deposits, and repatriation of income abroad
Documents Required
Passport & Visa copies (with travel history)
PAN card
Proof of overseas residence (work permit, utility bill, residence card)
Indian bank account details (for conversion to NRO/NRE)
Income documents: rent receipts, sale deeds, dividend/interest statements
Foreign tax ID (if applicable, for DTAA planning)
Procedure
Status Check – Calculate days of stay in India to determine NRI/RNOR status.
Banking Compliance – Convert savings accounts into NRO/NRE accounts as per FEMA.
Investment Review – Re-align investments (property, deposits, shares) to be NRI compliant.
Tax Computation – Compute liability on Indian income (rent, capital gains, dividends).
ITR Filing – File NRI income tax return in India for the transition year.
DTAA Application – Claim treaty relief to avoid double taxation with the country of residence.
Ongoing Monitoring – Annual review of residential status and compliance requirements.
Why This Matters
Most recent immigrants overlook critical changes like converting bank accounts, restructuring investments, or properly filing returns in the first year of becoming an NRI. This can lead to penalties, blocked remittances, or excess TDS deductions. With N.D. Savla & Associates, your shift from Resident to NRI status is managed smoothly, ensuring full compliance with Indian tax and FEMA rules while you focus on your life abroad.
