Subhash Lakhotia’s Tax Planning for NRIs is a comprehensive guide that offers practical advice to non-resident Indians (NRIs) on optimizing their tax planning strategies. It covers various aspects of tax planning under the Income Tax Act, 1961, as amended by the Finance Act, 2016, along with essential considerations under the Foreign Exchange Management Act (FEMA).

Key Features:

- Up-to-date with the latest amendments of the Income Tax Act, 1961.

- Covers relevant rules and regulations under FEMA.

- Explores tax exemptions available to NRIs under the Income Tax Act, 1961.

- Discusses special tax deductions and rebates applicable to NRIs.

- Provides guidance on avoiding the clubbing of income and wealth for NRIs.

- Offers strategies for tax-efficient management of capital gains for NRIs.

- Details the procedure for filing and assessment of tax returns for NRIs.

- Highlights the benefits of banking and investing in India for NRIs.

- Clarifies permissible and non-permissible investments for NRIs under FEMA.

- Comprehensive coverage of the assessment process for different taxpayers, including individuals, HUFs, Companies, and Non-residents.

- Includes a dedicated chapter on penalties, prosecutions, and tax refunds.

- Provides a ready reference chart of Income tax rates for A.Y. 2017-18.

- Features practical illustrations to simplify complex provisions of tax law.

This book is invaluable for all categories of income tax payers, including businessmen, professionals, and individuals, as it presents complex tax laws in a clear and accessible language, making it easy to understand and implement tax planning strategies effectively.