Rich Indians are now buying overseas properties in their children's names
- Posted on September 26, 2024
- By Business News Today
- 5 Views
Rich Indians are now buying overseas properties in their children's names
Wealthy Indians are using the RBI's Liberalised Remittance Scheme to buy overseas properties in their children's names. The scheme allows remittances up to $250,000 per year. Legal and tax experts advise proper disclosure of these assets in income-tax returns to avoid penalties under the Black Money Act.
