How to maintain NRE Status?

a t (3 Points)

19 November 2022  

Hi,

I was running a proprietary firm in India since 2019. My gross receipts were 60 Lakhs in this current financial year.

But I just came to UAE in August 2022 and registered my business here. Visa Issue date: 22-08-2022 which is valid for the next 5 years.

Because my bills were due to my clients so I came to UAE and closed all Indian accounts and opened NRE accounts.

Last month, I took my money from my clients and remit to my NRE accounts.

Now, my questions are:

1. Do I need to maintain a few years as an NRI status in Dubai only?

2. Can I go back to India and become a resident there only after maintaining NRI status for this year??

Is there any problem??

3. Or should I stay 2-3 years in UAE ??

Annual Turnover in India (Proprietorship Firm) - 50Lakh (April to till date)

  1. Can I reside in any other country for the next financial year and maintain NRI status?

Note: if I move to India in "April 2023" by maintaining only this year's NRI status then do I need to pay tax on the amount I have in my NRE accounts? Is there any issue?

Or should I keep maintaining a few more years as NRI STATUS to avoid tax liability in India?

Please guide me properly to move forward. I am looking for an experienced CA who can help me to provide the best information, and maintain my accounts and all.

Thanks