Non resident bringing money to India
This query is : Resolved
28 April 2023
An American married an Indian resident and he wants to bring money from USA to buy a house in India. What are legal compliance? and Income tax liability if any ?
CA R SEETHARAMAN
(Expert)
28 April 2023
If he becomes resident of India he can bring money and buy property in India.
No tax payable.
Otherwise he can gift the amount to his spouse and buy the property no tax payable.
No tax payable.
Otherwise he can gift the amount to his spouse and buy the property no tax payable.
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