01 December 2022
My wife recently acquired American citizenship.she is 68 and I am 76 years and maintain Indian citizenship.we are going to live in India only.we have joint accounts in banks which she operates as my hands tremble and can not sign checks . Our income is from pension.She has ppf Ac running with maturity after 4 years and also RBI 7 year taxable bonds acquired last year.What changes in our accounts need to be done. In my wife’s ITR how she is to be shown?Perhaps she can not be shown asNRI as she is going to live in India only. Will be grateful for a suitable detailed reply.
01 December 2022
Joint account can remain as it's. Only income credited in joint account related to whom reported in ITR. Who spends is no matter. Your wife will be reported as resident in ITR.
CAclubindia
