SM Advisory Services Private Limited

NRI Taxation

We specialize in taxation for Non Resident Indians and cross border transactions. Scope in this segment includes advising about investment avenues available, tax implications thereof, managing repatriation process. Cross Border Taxation includes, withholding taxation issues on foreign remittances, advising on tax implications of inbound & outbound investments and business ventures; and tax implications of various cross border transactions.

India follows progressive rate of taxation for individuals. Maximum tax rate is 30%. Threshold limit is Rs.200,000/-. 10% tax is payable for income between 200,001 to 500,000/-. 20% for income between 500,001/- to 1,000,000/-. 30% for income exceeding Rs.1,000,000/-. These rates of taxes are to further enhance by Education Cess of 3% and Surcharge of 10%. Surcharge is payable only where income exceeds Rs.10 Million.

The following table summarises the rates of tax considering education cess and surcharge.

Particulars Non-Resident Other Than Foreign Company Foreign Company
Income up to Rs. 10 Million 30.9% (progressive slab rate benefit available) 41.20%
Income above Rs. 10 Million to Rs. 100 Million 33.99% 42.024%
Above Rs. 100 Million 33.99% 43.26%