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Will an Indian beneficiary of a foreign trust be taxed in India?
Mint Chennai
|June 25, 2025
I am an Indian citizen living in Dubai and own an immovable property in the US. Since the property is in the US, I want to set up a US trust for the benefit of my two sons.
One son holds a green card and stays in the US, the other is an Indian resident. The property will be put out on rent and will pass on to my sons in equal share upon my demise. What will be the tax implications in India for any of us?
—Name withheld on request
I assume that you qualify as a non-resident under the provisions of the Income Tax Act, 1961 (ITA) and that the trust you intend to establish in the US will be a non-grantor trust. As a non-resident, transferring foreign assets into a foreign trust will not trigger any tax liability for you in India.
Dit verhaal komt uit de June 25, 2025-editie van Mint Chennai.
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