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Web6 aug. 2024 · A major finanial planning goal that everyone has is saving for their children's education. To put their kids through a good university, parents are now taking on extra work, sacrfising holidays, and borrowing money. A recent HSBC Value of Education survey finds that on average, Indian parents spend Rs 3.62 lakh for their child's undergraduate ... Web20 jul. 2024 · In case someone sends you money from India to the US as a gift or inheritance you might need to report it to the IRS as a foreign gift on Form 3520 — this is done with your US tax return. Whether or not this is necessary depends largely on the value of the transfer ². Taxes on investments in financial instruments WebAmong my desi friends, there are a few that are really frugal but most of us don't make a big deal about money unless it is a significant amount (50+). Among my closest desi friends everyone pays for each other all the time so we assume it evens out. [deleted] • 8 yr. ago I too like to generalize a large population off of a few anecdotal stories. tas myscout