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Best Seafarer Tax Advisor in India, with decades of experience & an near Zero % tax notice record. If you are looking at expertise, safety and transparency, then we are the best.

Family office (My CFO)

Tax filing

Overseas Multi-currency Account

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Gold

20000

Advisory & Compliance in India (Tax | Repatriation | Valuation). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios.

Diamond

40000

Advisory & Compliance in India (Tax | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios and Properties.

Platinum

80000

Full Service Advisory & Compliance in India (Tax | Legal | DTAA | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios and Properties.

Titanium

160000

Premium Service Advisory & Compliance in India (Tax | Legal | DTAA | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios, Properties and Non Vanilla investments.

Priority

320000

Premium Service Advisory & Compliance in India (Tax | Legal | DTAA | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios, Properties and Non Vanilla investments.

*COMPARE PLANS (Indicative Suitablity) Diamond Platinum Titanium Priority Private Customised
Pricing (INR Per Annum) 20,000.00 40,000.00 80,000.00 160,000.00 320,000.00 Customised
  Third Party, Out of pocket expenses, Fees, Taxes and Duties applicable on the Services, will be extra.
Plan Description Advisory & Compliance in India (Tax | Repatriation | Valuation). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios. Advisory & Compliance in India (Tax | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios and Properties. Full Service Advisory & Compliance in India (Tax | Legal | DTAA | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios and Properties. Premium Service Advisory & Compliance in India (Tax | Legal | DTAA | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios, Properties and Non Vanilla investments. Premium Service Advisory & Compliance in India (Tax | Legal | DTAA | Repatriation | Valuation | Banking). Suitable for Global Citizens who have Investments in multiple Countries, and have multiple Portfolios, Properties and Non Vanilla investments. Customised services for specific issues & services with advisory.
Net Worth (Cr) 0-5 0-10 0-15 0-20 20 and Above Customised
Servicing Requirement One Time Half Yearly Quarterly Unlimited Unlimited Customised
Geographic Exposure (Forex, Investment, Property) 1-2 Countries 1-2 Countries 1-5 Countries Unlimited Unlimited Customised
Asset Class Financial Assets Financial Assets, Real Estate Financial Assets, Real Estate, Structures Unlimited Unlimited Customised
Tax & Compliance
Income Tax Returns Customised
TDS Returns & Advisory Customised
IT Refund/Notice Advisory Customised
Income Tax Advisory Customised
NRI Status Advisory Customised
Compliance Customised
Capital Gains Advisory Customised
15 CA 15 CB Certifications Customised
Trust & Succession Planning Customised
Accounting & Book-keeping Customised
DTAA Advisory Customised
FATCA & FBAR Customised
Start Up Advisory Customised
International Tax Planning Customised
Audit Assistance Customised
FEMA Advisory Customised
RBI & IT Certification Customised
Risk Management  
Performance Management & Benchmarking  
Tax, Legal, DTAA, Valuation & Advisory Services
Inheritance Planning Customised
Retirement Planning Customised
Charity & Philanthropy Customised
International Relocation Customised
Start Ups & Company Incorporation Customised
Estate Planning - Cross Border Customised
Deeds & Agreements Customised
Will & Probate Advisory Customised
Forex & Financial Advisory
Off Shore Accounts Customised
Multi Currency Priority Account Customised
Forex Management  Customised
Private Banking Customised
Investment Banking Customised
Loan Restructuring Customised
Asset Insurance Customised
Insurance Broking Customised
Structural Investment Advisory Customised
             
Property Transaction Advisory (Tax | Law | DTAA | Repatriation | Valuation)
Indicative Property Value 0 - 1 Cr 0 - 2 Cr 0 - 5 Cr 0 - 10 Cr 10 Cr +  
Tax Advisory & Assistance            
Tax Returns, Tax Refund & Tax Notice Customised
Capital Gain Advisory Customised
Tax Saving Investment Customised
Tax Payment Assistance Customised
             
DTAA & Cross Border Tax Compliance            
DTAA - Cross Border Tax Planning Customised
TP, IT, FEMA, FATCA, FBAR, CRS & Others Customised
US, UK, Sing Tax Returns Customised
TDS for NRI's            
TDS Computation & Advisory Customised
TDS Returns & Form 16 A, 16B Customised
PAN / TAN Application Customised
NIL TDS Certificate for Property Sale (Sec 195) Customised
NIL TDS Certificate for Property Rent Customised
             
Repatriation & Forex Advisory            
15 CA / 15 CB Certificate Customised
Repatriation - Funds Transfer Customised
Off Shore Accounts Customised
Multi Currency Priority Account Customised
Forex Management  Customised
RBI & IT Clearances Customised
Valuation Assistance (Government Approved Valuer)            
Fair Market Valuation Customised
Capital Gains Valuation Customised
Sec 50 & 56 Valuation Customised
Legal Advisory & Assistance - XXXXXXXXXXXXXXXXX            
Property Sale / Purchase without POA 1%* 1%* 1%* 1%* 1%* Customised
Property Sale / Purchase with POA 1.25%* 1.25%* 1.25%* 1.25%* 1.25%* Customised
NRI POA (Power of Attorney) - Sale 0.5%* 0.5%* 0.5%* 0.5%* 0.5%* Customised
NRI POA (Power of Attorney) - Purchase 40k 40k 40k 40k 40k Customised
Concirege Services
Virtual Office Customised
Secretarial Services Customised
Document Management Customised
Locker (Fire Safe) Customised
             
Tax Filer Status
Individual            
Resident Salaried Customised
Resident Professionals Customised
Seafarer Customised
NRI Customised
NOR Customised
Returning NRI Customised
Expats Customised
             
Other Than Individual            
HUF/Proprietorship/Partnership/LLP Customised
Company (Private/Public Limited) Customised
Foreign Company Customised
Service Features
24/7 Support Customised
Senior Citizen Advisor Customised
Dedicated Personal Advisor Customised
Personalised Services Customised
Priority Processing Customised
Law Protect / Advocate Advisory (Tax) Customised
Round the Year Tax Consultancy 4 Times 8 Times Unlimited Customised
Accounting Standard Premium Premium Customised
Valuation Services# Prefrential Pricing Prefrential Pricing Prefrential Pricing Prefrential Pricing Prefrential Pricing Prefrential Pricing
Legal Services# Prefrential Pricing Prefrential Pricing Prefrential Pricing Prefrential Pricing Prefrential Pricing Prefrential Pricing
#Legal Services is provided by M/s Law Masters & Valuation by M/s Right Value
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*The comparison chart for various plans is indicative only and may differ on a case to case basis. The classification of services in a Plan does not necessary mean that each and every or all the services will be provided which have been listed under that particular plan. Keeping in mind the varied differences in documents and documentation for tax filers it is not possible to enumerate or determine the specific time or effort required to complete a given task hence it is not possible to exactly specify the nature or quality or quantity of specific services, hence we shall not be liable or penalised or requested for a refund in whatsoever manner if any of the abover services are not provided in that specific plan. This chart is on a best effort basis and the services enumerated are also on a best effort basis.

How it works

Help & Guide Corner

What is a residential status of Seafarer and why is it critical?

Seafarer or Mariner Taxation in India, is a super critical piece of Taxation, where for tax purposes they are considered NRI’s but for all practical purposes they reside in India. Hence, Seafarer Tax is a little different from NRI Taxation and the subtleties are required to be well understood to stay clear of the law and have clean compliances.

The Residential Status of the Seafarer is one of the most critical tax aspects for a Seafarer as the Residential Status determines whether the Seafarer will have to pay tax on his allotments and wages.

Hence, if a Seafarer is an NRI for a particular year, he does not need to pay any tax in India, and if he is a Resident in India, then he will become taxable in India.

For example if a Seafarer has Rs 50 laks of income then if is a Resident the tax to be paid can close to Rs 15 laks, which is definitely a large amount of money, which can be saved by maintaining the NRI Status.

There is also a middle status which is called the RNOR or Resident but Not Ordinary Resident, which is also applicable to Seafarers and a RNOR status can save the Seafarer Taxes even if they have not maintained the NRI Status.

It is important to plan your NRI days well in advance during the year, rather than get a surprise at the end of the year.

What is NRO, NRE account? Can i use my resident bank account?

The NRO and NRE accounts are well explained in many forums. It is advisable to keep funds in your NRE account, as far as possible and only if necessary, funds should be kept in the NRO accounts. One of the basic reasons is that the interest earned in NRO account is taxable and the interest earned in NRE Account is tax free. As an NRI you are NOT supposed to have a resident account at all. Please convert your resident bank account to a NRO account at the earlier or you can close it also. Please do not get any allotment in your resident account, or transfer to any family member, because as per current provisions of laws, the amount will get taxable even if you maintain an NRI status.

Should I get my Wages credited in India? Do I need an off-shore bank account?

This has been one of the most severe bone of contention between the Seafaring community and the Income Tax Department for more than 20 years.

The Income Tax Department, had traced out a contradictory clause in the Income Tax Act and started applying Tax on Seafarers, even if they had maintained their NRI Status, which was against the very principle of being tax exempt as an NRI Seafarer.

One of the specific clauses, the Income Tax Department used was the salary or wages is directly “received in India” hence it is taxable.

During this fight in the High Courts and Supreme Courts, we had advised many of our HNI Seafaring Clients, to open their remittance accounts overseas and to get their allotments credited overseas and then transfer to India to their NRE Accounts.

The Ministry of Finance had finally issued a very important circular, which gave a proper clarification and directed the Income Tax Department not to tax direct credits for Seafarers if they are NRI’s.

However, in the long-term, we still feel it is better to have an Off Shore Account and get the first credit there and then transfer the funds to your NRE Account in India, to avoid any risk at all.

 

Is there a difference in foreign ship / vessel vs indian and also being employed with an indian vs. foreign company.

This is a very subtle but critical difference in Tax and Compliance, when you are working with an Indian Flag or a Foreign Flag and it will be difficult to elaborate here.

The laws are a little different, hence it is critical to keep your Advisors or Accountants informed on your vessel flag.

There are also subtleties of tax laws and compliance, depending on, if your work contract is signed in India or is it is from overseas (say Singapore or Hong Kong.

how do i get funds back to india for my family expenses and monthly maintenance?

Transferring funds from your Off Shore Overseas Bank Accounts to India NRE or other accounts is not a problem at all and you can do the transfer through Net banking.

 

Can I buy / sell property / invest in assets in India as a NRI, what are the restrictions and process?

In general as an NRI orr a PIO/OCI you can do most investments in India and also overseas and Off Shore. There are a few restrictions like not purchasing a Plantation or Agricultural Land. There are few investments only for Resident Indians.

Do I need a Aadhar & pan card, How can I make it?

The PAN Card can be applied for remotely, without coming to India. The documentation can be done online or also vide a courier for the hard copies.

It is currently not possible, to make an Aadhaar registration remotely and virtually, as while doing the Aadhaar, your biometrics (like finger impressions) are required.

For property transactions, it may be necessary to have an Indian Passport or an OCI/Aadhaar (depending on state to state).

PAN Card is necessary for any outward funds transfer from India.