if somebody lives in US - Boston and gets inheritance in india in the form of cash & FDs, is this amount taxable for her
1. if the amount is to be invested in india
2. if she wants to take the money to US; in this case, is there any limit to this and is she liable for any taxation in US on this account.
Asked on 2/16/10, 6:42 pm
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
in this situation, when the property or cash is to be inherited in india by an NRI, the relevant permission is to be sought from the RBI for transferring the funds of sale proceeds to her native country. for NRIs the process is not much complicated. even the amount derived out of inheritance, can be invested in india.
Answered on 2/16/10, 7:56 pm
Rohini Kumar Tenneti
R.K.1080 LEGAL SERVICES
For a detailed answer contact at [email protected]
Answered on 2/16/10, 10:45 pm
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