Followers

Wednesday, September 25, 2024

Minors with mansions: Now, wealthy Indian 'kids' own foreign properties

Indians are consistently purchasing high-value properties abroad, with minors now joining in through the RBI's Liberalised Remittance Scheme using parental gifts. Dubai is a favored destination. Accurate disclosure of these assets is crucial to avoid penalties under the Black Money Act. Guardians managing minors' assets must ensure proper reporting in tax returns.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/S3bHCps

No comments:

Post a Comment

Report: 93% Indian executives see rise in cyber budget next year

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Bu...