OBJECTIVES OF THE STUDY

  • To understand the procedure for filing returns for Expatriates.
  • To understand and help the clients for better Tax Management.
  • To understand the various ITR forms and the changes made in ITR AY 2021:22.
  • To understand the India Income Tax Laws.
  • To ensure all the relevant required information is available for the preparation of the return- supporting documents, investment proofs, Foreign Tax Return etc.
  • To refer to case laws with respect to issues specific to the assignees and apply accordingly.
  • To input the data with respect to the stock awards, bonuses and all the taxable components (applicable accordingly to the residential status), on Taxmate (Software used in the preparation of the returns), in order tp prepare the tax return.
  • To generate the computation, relevant ITR forms (as applicable to the assignee).
  • To generate the Basis of Preparation document – A document that is given to the assignee explaining the basis how the Income Tax Computation was made.

RESEARCH METHODOLOGY

PRIMARY  DATA :

  • Facts and Figures
  • Jotting down important points during the training period
  • Organizational records

SECONDARY DATA :

  • India Income Tax Website
  • Information on expatriate taxation in India, preparation and electronic filing of returns has been collected from various research Articles, Journals.
  • Census
  • News Papers
  • Data Collection from Books
  • Investopedia
  • Chronologicals

LIMITATIONS OF THE STUDY

  • The study has been mostly made based on secondary sources of information.
  • The case studies mentioned are based on the IT (Information Technology) Major firm worked with and hence the outcomes would vary from case to case as applicable.
  • The report is a comprehensive case study and therefore no statistical analysis has been made.
  • Not every detail about the process could be discussed or disclosed due to confidential measures.
  • Difficulty in communicating with all the employees within the organization due to shift timings.
  • Intangible factors of human behavior cannot be quantified accurately and all patterns of relationships among factors may not be cov