Hello Experts,
My wife and i both are living aborad (both attain NRI status), she is not employed and has some savings and investment done by her parents and wanted to check on followings:
- Deposits in saving account: e.g., 2-3 Lakhs. she is process to start converting saving account into NRO, she might be receiving some interest on deposits in her NRO account, so filing the ITR (India) is mandatory, right?Does she need to declare somewhere about the amount as it was not actually earned by her?
- investment: post office RD, LIC, these all also need to be declared right?
What are the best ways to handle this situation?
CAclubindia
