NRI Assist
Your Representation in India
for Banking & Property
related matters.
About Us
NRI Assist is based in New Delhi, currently servicing clients in Delhi-NCR & Kolkata region. We provide legal & tax consulting services to NRIs who have limited or no representation in India.
Call/WhatsApp +91 98109 15147
Our Services
Property Sale
We provide a wide range of services around buying & selling properties in India, exclusively for the Indian diaspora overseas.
Succession & Legal Heir Certificate
Succession Certificate is a document which is issued by the court for claiming movable assets by the successors of the deceased person.
Transfer of Property
Change of ownership from one person to another person is done. This becomes even more important in the case of NRIs because they are physically far away from the property.
Mutation Services
Property mutation is a crucial legal process that involves updating property records to reflect changes in ownership. We provide this service to NRIs who may not be able to visit India.
Banking Services
We offer our clients a complete suite of services relating to their banking, investments in equities, investments in various Government of India bonds for Capital Gain Tax Savings and Fixed Deposit or Bond held with any bank or financial institutions in India.
Repatriation to Overseas Account
Repatriating Indian Rupees to a US Dollar overseas account is a process that involves several steps and regulatory considerations. We provide this service to NRIs.
Property Sale
We provide a wide range of services around buying & selling properties in India, exclusively for the Indian diaspora overseas. With several years of experience, expertise and competence in handling the full spectrum of real estate services we offer invaluable assistance with an understanding of the dynamics involved in the smooth closure of a real estate transaction. Our services provide a comprehensive array of deliverables that give our clients a one stop solution for all facets of a real estate transaction Identification of buyers (if needed by the client).
- Complete documentation of the properties
- Negotiation with the seller/buyer/third parties
- Drafting of sale and purchase agreement
- Registration of the sale deed with the revenue authorities
- Advice on repatriation of funds and taxation issues
- Banking support
- Complete documentation for repatriation of funds
We ensure full compliance to all relevant laws and statutes of the Government of India that are applicable for NRIs. We also assist our clients with repatriation of funds to their country of residence
Succession & Legal Heir Certificate
Non-resident Indians face a lot of problems when it comes to accessing their inherited moveable assets in India. Stringent policies of banks regarding releasing the funds of deceased persons leaves legal heirs in a lot of stress as they are not fully acquainted with the laws and procedures to access these assets. A succession certificate is now mandatory for accessing any type of movable assets whether they may be funds locked up in bank accounts or investments held in the form of equites, Government bonds, mutual funds, or any such financial instruments or these may be funds held in post offices in India.
Succession Certificate is a document which is issued by the court for claiming movable assets by the successors of the deceased person. It establishes the legitimacy of the heirs and gives them the authority to access the assets. It is issued by the appropriate civil courts in India under the relevant laws of inheritance on an application filed by the beneficiaries in a court of applicable jurisdiction for issuance of such a succession certificate.
NRI Assist provides a comprehensive service for the Indian diaspora overseas to obtain such succession certificates so that they can access the hard-earned money invested by their parents into movable assets. We deliver this end to end service without the need for our clients having to travel to India.
Transfer of Property
A widely faced issue by overseas Indians is the transfer of property or immovable real estate assets. Since each state has different statutes, rules and applicable taxes that govern such transfers, this further multiplies the misery for NRIs by complicating the process of executing property transfer.
Property Transfer is the only way by which change of ownership from one person to another person can be done. This becomes even more important in the case of NRIs because they are physically far away from the property and typically the property has been received by them by way of an inheritance. There are various instruments available through which he can transfer their title rights, such as, Gift Deed, Transfer Deed, Relinquishment Deed or Sale Deed, etc.
Unlike Western countries, in India, transfer of a real estate asset is not an automatic process but often a time consuming and tedious process under law where one has to submit proper documentation, go through verification checks and complete all necessary legal formalities to finalize the process. At NRI Assist, we offer one of the best platforms for comprehensive advice and end-to-end services for our clients to assist them with executing the transfer of properties into their names.
Mutation Services
Property mutation is a crucial legal process that involves updating property records to reflect changes in ownership. In the unfortunate event of a husband’s passing, the property may need to be transferred to his surviving wife. In this article, we will guide you through the process of mutating property in West Bengal from a deceased husband to his wife, addressing the legal and procedural aspects involved in this sensitive situation.
Steps for Mutation of Property after the Husband’s Demise
- Obtain the Death Certificate: The first and foremost step is to obtain the death certificate of the deceased husband from the local municipal authority or registrar of births and deaths. The death certificate is essential for initiating any legal processes related to property transfer.
- Confirm the Legal Heirship: In West Bengal, the legal heirship certificate, also known as the succession certificate, is often required to establish the wife’s right to inherit her deceased husband’s property. This certificate can be obtained through a legal process that includes filing a petition before the civil court. No Objection Certification or Gift Deed may be required from the children of the deceased.
- Clear Property Tax Dues: Ensure that all property tax dues and other pending bills related to the property are cleared. This step is crucial as property mutation will not be allowed if there are outstanding dues.
- Prepare the Necessary Documents: Gather the required legal documents, including the death certificate, legal heirship certificate, property documents, and identity/address proofs of the wife.
- Visit the Local Municipal Office: Go to the local municipal or panchayat office, depending on the property’s location, and request the mutation application form. Fill out the form with accurate information and attach all the necessary documents.
- Affidavit: It is advisable to prepare an affidavit stating the details of the property transfer from the deceased husband to the wife. The affidavit should be notarized.
- Submit the Mutation Application: Submit the completed mutation application along with all supporting documents to the local municipal or panchayat office. Be prepared to pay the required mutation fees and charges.
- Verification and Site Inspection: The authorities may conduct a site inspection to verify the details provided in the application.
- Mutation Order: Once the verification process is completed successfully, the municipal or panchayat authorities will issue a mutation order, officially transferring the property’s ownership from the deceased husband to his wife.
- Updated Records: Collect the updated property records from the local authorities, which will now reflect the wife as the legal owner of the property.
At NRI Assist we provide all the above services and you leave the troubles with us.
Banking Services
We offer our clients a complete suite of services relating to their banking, investments in equities, investments in various Government of India bonds for Capital Gain Tax Savings and Fixed Deposit or Bond held with any bank or financial institutions in India.
Our banking, financial and repatriation services help our clients in an end to end manner with a 360-degree closure loop.
Some of the key services we offer are:
- Activation of Dormant Bank Accounts.
- Complete assistance for clients to acquire all mandatory paperwork and ID’s without which no financial transaction can be concluded, such as PAN Card.
- Opening of new Bank Accounts as per the status of the client – such as NRE or NRO accounts.
- Activation and retrieval of funds held in Accounts that are non-operational for more than 10 years.
- Completion of all Know Your Customer (KYC) requirements with regards to Bank accounts/Equities/Bonds/Post Office Accounts.
- Conversion of equities held in physical form into Demat form, along with opening of a Demat account and regularizing of Bank Account linked to Demat accounts.
- Complete suite of repatriation services to repatriate funds held in Bank Accounts/Demat Accounts/Post Office, to the country of residence of our client with full compliance of all Government of India rules and regulations.
At NRI Assist we can provide services in all the scehduled bank and financial institute of India. We have resolved complex issues with the banking and recovered the funds for our customers.
Repatriation to Overseas Account
Repatriating Indian Rupees to a US Dollar overseas account is a process that involves several steps and regulatory considerations. Whether you’re an Indian National residing abroad or a foreign national with investments in India, understanding the repatriation process is essential. Here’s a comprehensive guide on the steps involved in repatriating Indian Rupees to a US Dollar overseas account.
- Eligibility and Purpose: Before you begin the repatriation process, it’s crucial to determine your eligibility and the purpose of repatriation. Indian nationals and foreign nationals with investments in India may have different requirements and limits for repatriation. Common reasons for repatriation include repatriation of proceeds from the sale of assets, repatriating income earned in India, or simply sending money abroad for personal use.
- Request a Certificate from a Chartered Accountant: If you are repatriating funds from the sale of assets, such as property or investments, you will need a Chartered Accountant to certify that you have complied with Indian tax regulations. This certificate, called the Chartered Accountant Certificate, is crucial for the repatriation process.
- Obtain an Inward Remittance Certificate (IRC): Once your Rupees are converted into US Dollars, the bank will provide you with an Inward Remittance Certificate (IRC). This certificate confirms that the funds have been credited to your NRE or FCNR account from a foreign source.
- File the Necessary Forms: You’ll need to fill out the necessary forms for repatriation, such as the Application for Remittance of Foreign Exchange (ARF) or any other forms required by your bank. Ensure that all information is accurate and complete to prevent any delays.
- Receive Funds in Your Overseas Account: Once the funds are successfully repatriated, they will be transferred to your US Dollar overseas account. The time it takes to receive the funds can vary depending on the bank and the complexity of the transaction. It’s important to note that the repatriation process can be subject to changes in regulations and may differ depending on individual circumstances and the specific nature of the funds being repatriated. Therefore, it’s advisable to consult with your bank or a financial advisor for the most up-to-date and accurate guidance on repatriating Indian Rupees to a US Dollar overseas account.
In conclusion, repatriating Indian Rupees to a US Dollar overseas account involves several steps, from ensuring your eligibility and purpose to completing documentation and complying with tax regulations. Following the correct procedures and staying informed about any regulatory changes is crucial to a smooth and successful repatriation process.
Knowledge Base -Blogs
Don't let taxes hold you back! This guide simplifies the process for NRIs selling property in India. ✅ Understand capital gains tax & minimize deductions with 3 smart strategies. Maximize your profit & navigate the sale smoothly!
Selling your property in India as an NRI (Non-Resident Indian) can be a breeze if you follow a few simple steps. Here are 5 handy checklists to keep your property sale smooth sailing!
Understanding Indian income tax rules is vital for Non-Resident Indians (NRIs). Key points include determining residential status, introduced deemed residency, and filing returns. Taxable income encompasses earnings from employment, property, and other sources, with exemptions for interest on NRE and FCNR accounts. Capital gains and business income earned in India are taxable, with provisions for exemptions. Rent payments to NRIs require TDS deductions. Comprehending these nuances ensures NRI compliance and optimized financial management within India's tax framework.
This question arises frequently as many NRIs are uncertain about whether filing ITR in India is mandatory for them or not. The answer is not straightforward, but let us explain the process.
