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Can a foreign citizen gift money to Indian parents please advise
19-Jan-2023 (In Property Law)
Hello, As a foreign citizen with an OCI card - currently resident in India - am I allowed to gift money to my parents (non-agriculturalists) in Telangana so they can buy farmland? Further, am I eligible to inherit the farmland at a later point in time? Thanks
HI, are your parents of Indian Origin then they can buy farmland and you can inherit it at a later stage as you will be a legal heir to the property
If your parents are not Indian citizens then they cannot acquire farmland property but only commercial property.
If your parents are not Indian citizens then they cannot acquire farmland property but only commercial property.
Helpful?
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Adv. Baddam Aravind Reddy
Secunderabad | 500+ Answers
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Dear concerned,
You have not specified in which country do you hold OCI card. It matters a lot to see legal obligations of such persons with the Treaty between India and such foreign country. Further coming to your query, Gifting money to your parents is absolutely not a problem, irrespective of what they do with that money. For other issues again we need to have a look at treaty between india and such foreign country. You may contact us to seek further assistance and other legal provisions.
You have not specified in which country do you hold OCI card. It matters a lot to see legal obligations of such persons with the Treaty between India and such foreign country. Further coming to your query, Gifting money to your parents is absolutely not a problem, irrespective of what they do with that money. For other issues again we need to have a look at treaty between india and such foreign country. You may contact us to seek further assistance and other legal provisions.
Helpful?
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Adv. Moizuddin Ali Ahmed
Hyderabad | 25+ Answers
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