FEMA compliance and tax tips for spousal gifts in India
Mon, Jul 1, 2024 3:12 PM

FEMA compliance and tax tips for spousal gifts in India

A Flip by Riya Sharma
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As a non-resident Indian, you can transfer funds to your Indian citizen wife as a gift or by selling investments, but she must repatriate the funds to India within 180 days under FEMA regulations. The gifted amount is exempt from income tax, but any income generated from investments made with those funds will be clubbed with your income.

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