A few common FAQs are addressed in this video : https://youtu.be/fTTz7dNHciA
- Can I declare the money sent to my dependent parents?.
- If yes, where should I declare it? #6GU
- Does it reduce my income tax?.
- How to do it?.
- How much can I declare?.
- Minimum & maximum limits?.Are in-laws considered?, etc
Disclaimer
- Any finance-related information shared is not professional legal, tax, or investment advice.
- The information provided is of an educational and general nature and is not investment advice within the meaning of Articles L. 321-1 and D. 321-1 of the French Monetary and Financial Code.
- Investment carries risks of loss and past performance does not guarantee future performance.
- For all professional advice, please consult a certified financial planner, CGP, CIF, tax consultant, etc.
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Hello Its very Nice, almost answered all the FAQ. I just have one question on justification though, Usually I transfer a money to my own account in India and then distribute it to various payments such as Home loan, LIC payments etc. and also I transfer the money to my parents from my own account held in India. In this case is it possible to declare the money send to parents ? Or it is always to make a direct transfer from my French bank to my parents Indian bank account ?
Hello, Thanks for your feedback.
As explained, the money must be transferred directly to the bank accounts of the dependant parents.
Hello,
In the video you mention that there is no maximum limit for 6GU provided we can justify, is this correct? My understanding had been that we had a limit of 3500€ per parent i.e. 7000€ ?
Hello, The maximum limit applies only when the parents are living with you in France.