CS Ms SHIKHA SABHARWAL Indo-American Chamber of Commerce: Virtual Session on “NRI Taxation and TDS on Foreign Payments” on 18th July at 3.30 pm
IACC AP & TS is pleased to invite guests for Virtual Knowledge Session on “NRI Taxation and TDS on Foreign Payments” on Tuesday, July 18th 2023, from 3.30 pm to 5.30 pm at zoom platform.
NRI Taxation :
Non- Resident Indian is someone who is living abroad, but is either a citizen or holds an Overseas Citizen of India (OCI) card. According to a report by the Ministry of External Affairs, India now has 32 million NRIs and PIOs (Person of Indian origin) and this trend is ascending. The fact that they do not stay in India on a permanent basis makes them even more aloof to Indian tax provisions. Experts will discuss the below sub-topics in their presentation:
- Is global income taxable?
- Residential status and sources of income
- Avoidance of double taxation
- Capital gains taxation for NRI
- Income Tax return filing for NRI
- Case scenarios
TDS on Foreign payments:
Indian Income tax law has in place a TDS mechanism by virtue of sec 195 of Income tax Act, 1961 on payments made by residents to Non-residents. With increasing international business ties and transactions, there is an increase in need to have knowledge of TDS implications of foreign payments. Experts will discuss the below sub-topics in their presentation:
- On which payments TDS is applicable?
- Determining liability on such payments
- TDS forms and compliance
- Case scenarios
Eminent speakers of the session are Mr. Vedavyas Raghavaraju, Partner, Mr. Murali Krishna, Partner, and Ms. Govu Akshita, Taxation Manager from RPSV & Co, Chartered Accountants.
