STRATEGIC NRI TAX & WEALTH CONSULTING

For Non-Resident Indians (NRI), navigating tax and wealth issues can be highly complex. Without intimate knowledge of the latest tax and banking policies can result in significant tax and even criminal penalties. NRI Tax & Wealth Advisory offers a team of financial experts, chartered accountants, and legal counselors can help you navigate these issues, build wealth and achieve a peace of mind.

RECENT EVENTS

SOS Town Hall: Post-Elections Reactions and Tensions

SOS hosted a townhall meeting on immigration, hate crimes, and fake news.at India House on April 30 from 4:00 to 6:00 pm.

Seminar Location: India House, 8888 W Bellfort Blvd, Houston, TX 77031

Date: Sunday,  April 30, 2017, 4-6pm followed by Light refreshments

 

Sugar Land Desi Seniors learn about US and Indian tax intricacies

Desi Seniors

Ranvir “Biki” Mohindra (center, rear) poses with the Sugar Land Desi Seniors after the presentation on US and Indian tax laws.

HOUSTON – With April 18 IRS tax deadline fast approaching, American citizens and green card holders are dealing with US tax laws and filing complications. For those Indo-Americans with assets in India, the tax consequences are even more complex.

Understanding the intricacies of US and Indian tax laws is something that Ranvir “Biki” Mohindra has gained through his own personal experiences and interactions with tax authorities, legal and accounting professionals in India and the US.

To share this practical knowledge with the Indo-American community, Mr. Mohindra has set up the NRI Tax & Wealth Advisory as an adjunct to the SOS (Share Our Secrets) organization. To inform the community of such topics, SOS and NRI Tax & Wealth Advisory have embarked on a series of free seminars. The first such seminar took place at India House on March 7 on the topic, “Demonetization Demystified”.

Another free seminar, this time on US and Indian tax laws, was presented before the Desi Seniors of Sugar Land by Mr. Mohindra on Thursday, March 16 at Madras Pavilion. Approximately 75 senior members attended the lively presentation and discussion.

At the conclusion, Mani Subramanian informed the audience about SOS and its goal of educating young professionals about getting ahead in their careers and life. Mr. Subramanian also discussed the SOS Mentorship program, which enables seniors to serve as mentors to one more SOS members.

In his presentation, Mr. Mohindra stressed the importance of preserving the NRI status. The status is based on residency in India and there are several residency tests: 1 year (182 days), 4 years (365 days) and 7 years (729 days). If one loses the NRI status, then you incur a tax liability for your worldwide income both in the US and in India. “There are several legal ways to get around this situation,” Mr. Mohindra said.

Mohindra also explained the FBAR and FATCA requirements of the US laws and FERA and FEMA requirements of the Indian law, and the grave civil and criminal penalties that could be incurred for acts of incomplete reporting.

Mohindra also discussed the possible windfall one can get from the IRS for selling the ancestral property. In conclusion, he explained how one has to earn a rate of return of 12% to 15% in India that would be equivalent to a 5% return on investments in the US.

SOS is planning to host a town hall meeting on immigration, hate crimes and fake news at India House on April 30 from 4:00 to 6:00 pm.

Demonetization Demystified

IAN Demonetization

A glimpse of the published article of the seminar at India house on 7th March 2017.

Free Seminar at India House on Managing Your Currency, Wealth, and Taxes

demonitizationseminar

HOUSTON – Demonetization is the latest of financial dilemmas facing NRIs, who hold Indian currency, bank accounts, real estate and other assets in India.

How do you get answers from impartial experts, who are not trying to sell you additional financial products?

India House, in association with NRI Tax & Wealth Advisory and Share Our Secrets (SOS) Mentorship Program, is pleased to host a free seminar at 7 pm on March 7, 2017 on India’s demonetization and issues related to managing your currency, wealth and taxes, with clear insights on potential gains or losses and tax penalties in India and the United States.

The seminar will feature a presentation by Ranvir “Biki” Mohindra, who has published a series of articles on the effects of demonetization and NRI tax and wealth issues based on his expert knowledge and experience in managing NRI tax and wealth portfolios.

In addition, a panel of experts will relate their personal experiences with demonetization and discuss related financial issues of interest of Non-Resident Indians and Overseas Citizens of India.

Topics discussed at the free seminar will include:

  • Understanding the twin financial revolution in India
  • Successes and failures of Demonetization
  • Who are the victims of Demonetization?
  • Why are FBAR and FATCA important to your financial health?
  • Retiring in India—A shattered dream due to changes in tax laws

Seminar Location: India House, 8888 West Bellfort, Houston, TX 77031

Date: Tuesday, March 7, 2017, 7 pm to 9 pm

Networking: 6:30 pm to 7 pm. Light refreshments will be served.