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Our recent business trip to Europe and London as Non-Resident Indian (NRI) service providers was an exhilarating journey filled with opportunities to delve into new markets, broaden our professional network, and gain valuable insights into international business practices.
Europe and London, known for their diverse industries and vibrant cultures, provided the perfect backdrop for us to connect with potential clients seeking specialized services. During this trip, we were able to address numerous concerns of High Net Worth Individuals (HNIs) among NRIs. These concerns encompassed a wide array of topics, including estate planning, succession planning, navigating property sales in India, clarifying ambiguities surrounding NRE & NRO accounts, managing repatriation of funds under the LRS (Liberalized Remittance Scheme), and deciphering the complexities of the Indian taxation system, which includes aspects like TDS, TCS, gifting, refunds, and more. Additionally, we had the privilege of engaging with NRIs who are contemplating their return to India post-retirement.
One of the most rewarding aspects of our trip was the establishment of robust relationships with local businesses and professionals. These connections serve as the foundation for potential future partnerships and growth opportunities. By expanding our professional network, we have paved the way for prospective collaborations on a global scale.
During our visit, we had the unique opportunity to engage in discussions with top-level management from one of the world's leading cruise lines, a group often referred to as seafarers. While the Income Tax Act of 1961 may not explicitly recognize the term 'seafarers,' it does contain specific provisions that pertain to their taxation and compliance matters.
This successful business trip has not only enriched our understanding of the global business landscape but has also opened doors to new horizons and exciting possibilities for our NRI service offerings
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