India being one of the fastest growing economies in world, MNCs across the globe want to set up a shop or put their representatives in India. Important question is what are the regulations for the same and its tax implications: Answers by Neeraj Bhagat & Co. http://neerajbhagat.com/wp-content/uploads/2016/06/Decoding-Expat-Taxation.pdf.
(Being a foreigner what are the requirements for an expat coming to India on employment or business purpose?
The first requirement for an expat is to apply for work permit, i.e., employment visa (E-visa) or business visa. An employment visa will be granted to a foreign national if his or her salary exceeds US$25,000 per annum.
What should an expat do soon after arriving in India?
Firstly, expats who have a visa that’s valid for more than 180 days (and/or those who intend to stay in India for more than 180 days) will need to register with the Foreigners’ Regional Registration Office (FRRO) within 14 days of arrival to receive a residential permit.
What are the tax compliances an expat must follow?
An expat is liable to pay taxes in India based on his/her tax residency during a fiscal year. Tax residency is dependent on the stay of that person in India, irrespective of the purpose of such stay.http://neerajbhagat.com/wp-content/uploads/2016/06/Decoding-Expat-Taxation.pdf
Filing tax return: The due date for filing the India tax return is 31st July following the end of every fiscal year. The return can be filed either manually or electronically using the linkhttp://www.incometaxindia.gov.in/Pages/default.aspx .
An expat can seek further answers to questions:
Can an expat use tax planning to accelerate or defer residence? http://neerajbhagat.com/wp-content/uploads/2016/06/Decoding-Expat-Taxation.pdf
Is there any other regulatory compliance an expat must follow? http://neerajbhagat.com/wp-content/uploads/2016/06/Decoding-Expat-Taxation.pdf
About Neeraj Bhagat & Co.
Neeraj Bhagat and Co. has a team of 40 professionals comprising of Chartered Accountants, MBA’s and other finance professionals rendering services in the field of Accounting, Statutory Tax Compliances , FEMA, Transfer Pricing, Statutory Audits and Tax due diligence since last 19 years. Neeraj Bhagat & Co has offices in New Delhi, Gurgaon and Mumbai and is part of INAA Accounting Association one of the World’s Top 20 in accounting associations. – PRNewswire