Gift Tax

Remitting money to India: Are funds taxable for you or your brother? | Mint

TheSpuzz Desk1 month ago04 mins

Source: Live Mint I have been working in the US for many years. I want to remit some money to my brother in India. Are these funds taxable in my hands or his? I have already paid tax on the money here. Should I transfer the funds to my account so that my brother can…

Tax implications of property gift and sale explained for family members | Mint

TheSpuzz Desk2 months ago08 mins

Source: Live Mint My mother-in-law owns the residential property where we all reside. My husband passed away last year, leaving behind a daughter and a son. The daughter is now 21 years old, and the son is 15 years. She has decided to sell the property to fund the purchase of a house for me…

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Remitting money to India: Are funds taxable for you or your brother? | Mint

Tax implications of property gift and sale explained for family members | Mint