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I am based in US and plan to send money to India. A similar question addresses the issue when money is being transferred to my own NRE/NRO/FCNR account in India. I was wondering whether the tax implications (on the money transfer as well as any interest income) change, when I am transferring money to say my spouse/parents' accounts.

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steadyfish
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1 Answers1

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Yes. You may be subjected to the US gift tax (if you transfer to anyone other than your legally married spouse or yourself). The receivers will have to deal with the Indian tax laws, which I'm not familiar with.

littleadv
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