Tax liability in u.s.a.

Querist : Anonymous (Querist) 04 January 2012 This query is : Resolved
1. WHAT WOULD THE TAX LIABILITY TO USA BORN CITIZENS FOR ANY AMOUNT GIFTED TO THEM BY THEIR INDIA BORN INDIAN GRAND PARENTS? 2.WHAT WOULD BE TAX LIABILITY TO INDIA-BORN USA CITIZEN FOR GIFT AMOUNT FROM INDIAN PARENTS,AND FOR AMOUNT RECEIVED THROUGH ACCRUALS OF POST OFFICE DEPOSITS MADE PRIOR TO USA CITIZENSHIP 3. IS GIFT FROM INDIAN NATURAL PARENTS NOT TAX FREE FOR A SON SETTLED IN USA ?.

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Shonee Kapoor (Expert) 05 January 2012
The gifts from parents and grand parents are tax free for any person.

However fro amount in post office, even OIC or NRI has to pay Income tax as per the law.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com