My NRI son gifts Rs. 3,00,000 to me in India. What is my tax liability?
SBNRI Team
answered on 09/02/2021
Gift from an NRI Relative to a Resident Indian is exempt from tax in India for both giver and receiver. Therefore, you don’t have any tax liability in India.
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answered on 16/11/2020
A Roth IRA is funded by your post-tax income. Therefore, withdrawals are tax and penalty-free. However, if you have had your Roth IRA for less than 5 years or you haven’t reached the retirement age of 59 and a half, the earnings can’t be withdrawn. If you withdrawal your earnings before maturity then tax […]
SBNRI Team
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SBNRI Team
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