Minors with mansions: Now, wealthy Indian 'kids' own foreign properties

Indians are consistently purchasing high-value properties abroad, with minors now joining in through the RBI's Liberalised Remittance Scheme using parental gifts. Dubai is a favored destination. Accurate disclosure of these assets is crucial to avoid penalties under the Black Money Act. Guardians managing minors' assets must ensure proper reporting in tax returns.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ADIpfPC