I am currently an US Citizen. I am selling a plot of land that I own in India to an Indian resident.
From the proceeds
- I would like to purchase an apartment in India for my parents use.
- Would like to gift part the money (about INR 20 lakhs) towards my US born son's college education in the US.
- I have an existing NRO savings account in India.
Please help me with your guidance on best ways to make these arrangements.