r2i forum

Hi Rajesh, can you please post the latest definition of 'close relative'? Can grandparents living in India gift grandchildren living in the US (US Citizens) without any taxes in India or the US?

Thank you for everything you do!

[QUOTE=physdude;676836]This article is quite bizarre as it ignores the most well known popular and inexpensive retirement destinations like Belize, Panama, Malaysia and Thailand. I myself chose KL in Malaysia in the end with its cheap and abundant south Indian food (though north Indian food is also ...

Thanks DB. No questions to answer?? I am harping more on the questions because, our 2nd son will have to travel alone some time soon. I don't want him to mess up his answers since he is just a GC holder and not an USC.[/QUOTE] If he is not USC, he doesn't have a US passport, which means he can't ...

I am looking to replace my Vonage service in the US, so I am primarily looking for a home phone service. I am open to using calling card services to call India.

[QUOTE=Imissindia;473056]I shifted from Vonage to Nettalk about a year ago after having used Vonage for about five years. Nettalk is quite good and the quality is about 80% as good as Vonage. I called customer service once and it only took about 10 min. to be connected and they were quite helpful ...

Folks, I live in the US and currently have Vonage World Plan. It's an overkill as I have less than 200 minutes of calling to India per month. I am looking at Ooma and Nettalk as two potential replacements. I have no intention to move them to India. They both can port my number and have all the ...

[QUOTE=cmk786;408434]Any body can deposit rupees in to your NRO account.[/QUOTE]

Correct, but he is talking about depositing rupees in to [I]NRE[/I] account, which he can't do.

Are you sure that's what you are doing at ICICI? You can put money in NRE only from foreign currencies, you can't deposit rupees into it. I don't think the rules allow you to direct interest from NRO-FD to an NRE account. Better double check.

By the way, this is the article I saw this in. It's from WSJ summarizing the tax changes for 2011.

[url]http://finance.yahoo.com/taxes/article/111792/tax-changes-for-2011-a-checklist?mod=taxes-advice_strategy[/url]

It looks like the tax law passed late last year imposed a new reporting requirement for those with foreign financial assets above $50,000 in 2011. This form is different from the FBAR form that we are familiar with (it comes into play if you've had more than $10,000 in foreign accounts at any point ...