The following article was first published in the Mint newspaper on 30th May, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
I have a son (17) and daughter (21). My daughter plans to go abroad for two years. I have two queries: i) How much money can I send her in a year, and can it be every month or does it have to be once a year? ii) I have created a private trust for the benefit of my children. Can I send the money through a private trust?
—Name withheld on requestContinue Reading How to send money to your adult children living abroad