r2i forum

Dear dbs, Desi and Rajesh - Thank you very much for the detailed responses. I appreciate you taking the time.

[QUOTE=dbs;662539]Any money given to parents is free of Indian Tax and not clubbed with son's income. Your wife being nominee does not change the status.[/QUOTE] Thank you very much for your response. I read this on one of the articles this morning. While I checked with my CA, he confirmed the same ...

[COLOR=#333333]All - I am a US citizen investing money in my parents name by transferring from my resident account to their account. The money is invested in India based mutual funds and they are Indian citizens. My wife is listed as nominee. [/COLOR] [COLOR=#333333]Does the income from these ...

All - I am a US citizen investing money in my parents name by transferring from my resident account to their account. The money is invested in India based mutual funds and they are Indian citizens. My wife is listed as nominee. Does the income from these classify as clubbing of income and is there ...