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Tax Services – India and USA

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India

  • File of form 64 and the fund’s annual tax return
  • Cross verify form 26 with tax deductions
  • Compute monthly workings for TDS liability
  • Prepare TDS Payment Authorization letters to the bank
  • Reconcile monthly TDS payable account with TDS payment challans
  • Prepare quarterly TDS returns at a Fund level
  • Upload quarterly TDS returns into the NSDL site
  • Compute quarterly advance tax liability at the investor leve
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United States

  • Compute & File 1065 Returns and issue K1
  • Compute PFIC Calculations and issue PFIC’s
  • Prepare Form 8621 for US Investors as an extension to PFIC and FinCEN Form 114 for reporting foreign banks and financial accounts ( FBAR)
  • Prepare Expatriate Tax Returns for US GP’s
  • File Tax Returns for US Fund Partnerships

01

Obtain GIIN

Assist clients in obtaining a Global Intermediary Identification Number (GIIN) as required under US FATCA; all Reporting FIs (Foreign Financial Institutions) and Registered Deemed Compliant FIs are required to register with the US Internal Revenue Service (IRS)

02

Conduct Due Diligence

Conduct due diligence on its investors to identify whether accounts are US reportable under the AEOI Regulations.







03

Register

Register with and notify the foreign tax authority of its status as a Reporting FI.








04

Report

Report account information on US reportable accounts to the foreign tax authority