Table of Contents
Recent Immigrant Services – N.D. Savla & Associates
For individuals who have recently moved abroad and acquired Non-Resident Indian (NRI) status, financial and tax planning becomes crucial. As a recent immigrant, you must align your Indian income, assets, and investments with both Indian tax laws and the regulations of your new country of residence. At N.D. Savla & Associates, we provide tailored NRI advisory for recent immigrants, ensuring compliance with the Income-tax Act, FEMA, and DTAA treaties.
Overview
When you first move abroad, your residential status under Indian tax law changes from Resident to Non-Resident (or RNOR). This impacts how your income is taxed — only income earned in India will be taxable here, while your foreign income is exempt. At the same time, FEMA regulations apply to your bank accounts, property ownership, and investments.
Features
Determination of residential status for new NRIs
Advisory on conversion of Indian savings accounts to NRO/NRE accounts
Guidance on tax filing for NRIs in the first year of transition
Structuring of investments to remain FEMA compliant
Advisory on DTAA to avoid double taxation between India and your new country of residence
Support for repatriation of funds abroad in compliance with RBI rules
Documents Required
Passport & Visa copies (to determine date of departure)
PAN card
Travel history for the relevant financial year
Indian income details (salary, rent, capital gains, dividends)
Bank account details (to convert Resident accounts into NRO/NRE)
Foreign country tax ID details (for DTAA planning)
Procedure
Residency Review – Determine change of status from Resident to NRI or RNOR.
Banking Compliance – Convert Indian resident savings accounts into NRO/NRE accounts.
Tax Filing Advisory – Compute tax liability on Indian-sourced income and file ITR accordingly.
Investment Structuring – Re-align investments to be FEMA-compliant and suitable for NRI taxation.
DTAA Relief – Apply treaty benefits to avoid double taxation.
Ongoing Advisory – Provide year-on-year guidance as the individual settles abroad.
Why This Matters
In the first few years after migration, recent immigrants often face compliance gaps such as failing to update bank accounts, missing ITR filing, or misreporting foreign income. With N.D. Savla & Associates, your transition to NRI status is managed seamlessly, ensuring smooth compliance with Indian tax laws while you settle into your new country.
