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.
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.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
- Varisan certificate process and fees and from where it is applied
- Legal Documentation for Claiming Ancestral Property Share Without Disp
- Agriculture land and house property are two separate entities or singl
- Grandfathers property sold out by the grand daughters.
- Gift deed from mother to son but paid in cash the property value
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."