As an NRI, juggling between the finances of two different countries, including your home country, India, might feel overwhelming every time you have to file your taxes. Filing taxes in India can be challenging, especially if you are an NRI, as you need to have a proper understanding of the country's tax laws and regulations.
In this situation, working with a professional financial advisor in India is one of the most effective ways to ensure compliance with tax procedures. They help in designing a customised financial solution through their legal and financial knowledge, deep expertise and vast experience in the investment opportunities and tax regulations of India.
However, many NRIs take this decision lightly and choose an unreliable financial advisor who does not manage their finances or taxes effectively. Therefore, this blog will specifically present the top five tips that will help you choose the best NRI tax advisor in India.
Tip 1: Always Check Relevant Experience and Qualifications
Checking the advisor's credentials, such as qualifications and relevant experience, is the first thing to consider. You should always seek an advisor with substantial experience helping NRIs comply with Indian tax laws. A reliable financial company is well-versed in Indian tax laws and understands Indian legalities comprehensively.
Tip 2: Understand their Areas of Tax Expertise
Professional financial advisors offer a range of services, including private trusts for NRIs. Therefore, it is essential to ask and understand their areas of tax expertise. Choosing a financial advisor with expertise in the area you need help with is crucial. It will enable you to get the most out of their services, giving you the confidence that an advisor with thorough knowledge of the area manages your finances.
Tip 3: Check Online Reviews and Client References
You should always verify an advisor's references from previous clients and check reviews from online portals. This particular method will give you an idea of the quality of services, the advisor's calibre, and their performance history. Some factors to look for in references and reviews include experience, expertise, timeliness, value for money, and the accuracy of tax filings.
Tip 4: Consider Communication and Response Time
Communication matters significantly for all NRIs, as you may not be able to meet your financial advisor face-to-face regularly. You should always work with the advisor who readily speaks and provides prompt responses over calls or texts. This can be observed during your first few interactions with them.
Tip 5: Enquire About Service Costs and Payment Options
Lastly, it is essential to have a transparent discussion of all service costs and available payment options. The cost of the services will depend on the advisor. You should request an estimate of the total cost and the availability of payment options, such as online, debit/credit cards, or other bank transfers.
Conclusion
With these tips, you can choose the best financial advisor who can help you fulfil your tax requirements without any hassle. However, if you are looking for a trusted financial advisor, Ashutosh Financial Services offers structured financial planning and advisory support for NRIs, covering investments, taxation, compliance, and long-term wealth management across India.