India is known for its high tax rates, especially for high net worth individuals (HNIs), expatriates, and non-resident Indians (NRIs). These individuals face various challenges related to taxation, primarily due to their residential status and investment activities, particularly in real estate, shares, mutual funds, bullion, and works of art. Unfortunately, they often overlook the tax implications of their actions and fail to comply with tax regulations in India. Even a minor mistake in tax compliance can result in prolonged legal battles with Indian tax authorities.

Moreover, these individuals typically encounter the following difficulties:

1. Maintaining accounts and supporting documents in India.
2. Coordinating with banks, brokers, mutual funds, portfolio managers, etc., to obtain transaction statements.
3. Accurately calculating and paying income tax in India, which requires a comprehensive understanding of the intricate web of income tax provisions.
4. Staying updated with the ever-changing income tax laws in India.
5. Communicating effectively with Indian tax authorities.
6. Insufficient time and resources to regularly follow up on pending tax refunds.

It is crucial for HNIs, expatriates, and NRIs to address these challenges and ensure proper tax compliance to avoid unnecessary complications with Indian tax authorities. At NYCA Global, we acknowledge the requirements of this community, being well-informed about the common challenges they encounter in terms of taxation and regulations in India. Our approach is to offer a thorough and tailored solution, ensuring a holistic and transparent process.