We, S LOHIA & ASSOCIATES, is a Chartered Accountants firm, with it is headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields.

We, at S LOHIA & ASSOCIATES, focus at providing tailor made solutions to challenging problems of our clients, and perform with high quality and timely service

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Services To NRI'S

We have creditable experience of providing multitude of services to a diverse client profile. Non resident Indians comprise a substantial portion of our client base.  We provide a range of services to our NRI clients. Our client profile includes

  • Non resident Indians who have/ intend to have investments in India
  • Non resident Indians who inherit assets in India
  • Non resident Indians/ Non-residents who have / intend to set up a business in India
  • Returning NRI
  • Emigrating Indian/ New NRI

Non resident Indians who have/ intend to have investments in India 
For Non resident Indians who have certain investments, property and bank accounts in India, we manage their financial affairs in India in its entirety as follows:

  • Monitor, record and periodically report on his investments.
  • Facilitate liquidation/lease of property through a top-notch property consultant.
  • Facilitate repatriation of sale proceeds of investment and property.
  • Facilitate repatriation of income from investments and rent from the property let out.
  • Complete banking and other regulatory formalities.
  • Plan his financial transactions to minimise his tax liability in India.
  • File Income Tax Services return.

For Non resident Indians who intend to invest in stock market, property etc., we provide the following services:

  • Devise a personal financial plan.
  • Facilitate acquisition/ lease of property through a top-notch property consultant.

Non resident Indians who inherit assets in India 
A NRI inherits assets in the form of investments, property etc in India and intends to either liquidate them and repatriate the sale proceeds of the same or manage the same in most tax efficient manner. We enable him to achieve these objectives by facilitating the clearance from Income Tax Services, RBI and other regulatory authorities.

Non resident Indians/ other Non-residents who have/ intend to set up a business in 
A NRI/ other non-resident businessman intends to set up business in India. We enable him to do so by providing the following services:

  • Develop an entry strategy and a financial model.
  • Undertake location studies and recommend the ideal location.
  • Identify and evaluate potential partners including due diligence reviews
  • Arrange for complete set of regulatory approvals.
  • Arrange finance for the project by preparing a detailed project report and liaison with banks/ financial institutions/ joint venture partners.
  • Facilitate incorporation of a company in India.
  • Organise office infrastructure and manpower during the “in-transit period” of the start up or operate as a representative office.

A NRI/ other non-resident already has a business in India. Besides providing the entire gamut of financial and consultancy services, we operate as a representative office/ manage specific business processes. 

Returning NRI 

A returning NRI wants to retain/ disinvest assets (property, investments, business) acquired outside India and re-invest abroad the income/ sale proceeds thereof. We assist him as follows:

  • Facilitate clearance required under FEMA from RBI to continue to hold assets outside India.
  • Facilitate re-investment of sale proceeds of assets acquired outside India.
  • Plan residential status under FEMA and Income Tax Services.
  • Plan tax liability in India.
  • Make fresh investments in business outside India.
  • Investment and business consultancy in India.

Emigrating Indian/ New NRI 
An emigrating Indian/ new NRI wants to retain/ disinvest assets (property, investments, business) acquired in India and repatriate the income/ sale proceeds thereof. We enable him to do so as follows:

  • Obtain clearance required under FEMA from RBI to continue to hold certain assets in India.
  • Facilitate repatriation of sale proceeds and income of assets held in India.
  • Plan his tax liability in India.
  • Monitor, record and report on his investments in India.

Permanent Account Number
Permanent Account Number (PAN) is a national identification number, issuedto all taxpayers of India whose income is taxable. This number is issued by the Income Tax Office. The primary purpose of PAN is to prevent tax evasion by keeping a track of monetary transactions. The PAN is unique, national, and permanent. It is unaffected by a change of address, even between states.Permanent Account Number is an identity document/number which can also be issued to non-taxpayers. All existing assessees or taxpayers or persons who are required to file a return of income, even on behalf of others, must have a PAN. Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also have a PAN.

It is mandatory to quote PAN on:

  • Return of income
  • All correspondence with any income tax authority
  • All documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes viz sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country.
  • Application for obtaining a telephone or cellular telephone connection
  • Application for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.

Following entities can apply for a PAN card:

  • Individual
  • Hindu Undivided Family (HUF)
  • Private Limited Company & Public Limited Company
  • Partnership Firm Trusts
  • Artificial Juridical Person
  • Foreign Company
  • Local Authority
  • Association of Person
  • Liaisoning office etc.

The process for application of PAN is as follows:

  • Fill up Form 49A
  • Attach a proof of identity
  • Attach proof of residence
  • Submit the set to NSDL /UTI
  • After submission, acknowledged copy is received which is used for further follow-up with Department.