Dear Nitin, I am an NRI, living in Australia. I had an impression that if I have some income in India and pay tax on that, I won't need to pay tax again in Australia. But I was wrong. My tax slab in Australia is 37%. If I redeem my mutual funds in India and pay 12.5% tax on long term capital gain, I would have to pay 24.5% in Australia [37 (Aus tax slab) - 12.5 (Indian tax I paid)]. I was not aware of this. Even if I withdraw my provident fund, I would have to pay tax on that in Australia. Now, my question: if there a way to transfer my mutual fund investments to my parents? Also, can I transfer my provident fund to my parents?
Ans: Hello;
If you are holding MF units in a demat account then your MF holding may be transferred to the demat account of your parent through Delivery Instruction Slip(DIS).
EPF unfortunately cannot be transferred.
Best wishes;
