I am an Indian married to an American citizen living in the US, in the waiting phase for my Green Card application decision Process. My husband and I share a joint account here in the US. My mom lives in Chennai, and just sold her (I was the nominee) apartment in India worth Rs.1.4 Crores. She wants to send me Rs 50 lakhs, while she plans on investing the other Rs 50 lakhs in another smaller apartment with my name as Nominee. She has Indian Overseas Bank account in India. Advice is highly appreciated for the following:

What are the safest and less expensive ways to send money from India to US and both our tax liabilities? Can she gift me the Rs 50 lakhs amount to me (who is in the waiting phase for Green Card) or my husband (Who is a native American/Citizen), also what is the maximum limit of Gift amount?

What will be the tax liability for me and my mom in case of Gift?

Does she have to show it in her Income Tax Return or in my husband's (as he is the tax payer) Tax Return. What does the US Income Tax Laws states?

What will be the procedure to send money as Gift from my Mom to my Husband/me?

Will the money be transferred directly from my mom's Bank Account to my husband and my joint Bank Account? My mom's bank told her that the limit to sending money as gift is Rs 50 lakhs.(I am not very enthusiastic about the bank transfer, as my mom's bank is asking for Rs.5 lakhs on the transfer!! as they want her to retain majority of the amount as investment with them, I really don't understand anything about these banking procedures!!!)

Is there a possibility of wire transfer from bank to bank?

Can she send money through any other money sender Certified Companies? (I read some articles on various options and I find BookMyForex.com interesting, do anyone know how this site works, and if there are any tax/ hidden cost liabilities?)

Please Kindly advise. If there is something more on the subject to make me understand. Thanks in Advance.

  • 1
    This is too broad a question with too many ambiguities and too many things being asked. Please shorten it, clarify whether you were legally a joint owner of the apartment (as opposed to "This flat is yours, dear, after I pass away") and whether your mother has paid all relevant taxes on the sale of the flat, ask fewer questions, etc. Feb 21 at 20:47
  • I understand, I was the nominee on her will for the apartment. Sorry I had to make some edits. In the beginning she was planning on sending me Rs. 1 crore, but due to all the tax implications, she sending me only Rs. 50 Lakhs now, the other 50 lakhs she plans on reinvesting in another apartment. Feb 22 at 16:04


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