Transferring money from India to the USA?

How transfer money from India to USA?

• My father-in-law wants to transfer about $50,000 to my wife. The amount comes from the sale of two properties in India, where my wife was co-owner of one of the properties. 1. What is best possible legal way to transfer this money to USA with least taxes? 2. How much money is first of all allowed to transfer from India to USA as a gift? 3. Do we have to pay any taxes on this money at the end of the money? I was looking at several options like Citibank NRO account,Wire transfer,Direct money deposit in the account in US from India. I would appreciate any input from you.

• Answer:

  first of all is your wife a US citizen? if so the sale of the property she co owned will be taxable to her as US citizens are taxed on world wide income whatever her gain(or loss) is on this property would be reported on her tax return on Sch D sending money from India to US can be done by any of the methods you name the amount of money may well trigger the Homeland Security examination for source the remainder of the money is simply a transfer of money, recipients of gifts are not taxed on them