Benefits of taking Citizenship for both husband and wife Vs. only for Wife

[srsj]

Hi,

My Wife and I are eligible for applying for US Citizenship. Both of us are having Green Card. We are planning to move back to India soon as have Business over there.
Our kids are Citizens. We are just wondering what are the pros and cons of taking Citizenship for both of us versus taking only for my wife and me applying for Green Card re-entry permit for 2 years.
We have some farmlands in India and may buy some more in the future.

Reason for taking Citizenship for Wife only is to be on the safe side to be on the safe side if something does not work. Please help us with pros and cons of our decision including any benefits in taxes and such.
Appreciate your help a lot.

Thanks,
Sam.

 

[ml317]

I'm not familiar with India's tax rules, but US citizens and green card holders are required to pay income tax on income earned worldwide as well as estate tax on your assets worldwide. Does India require you to pay income on all income earned worldwide or only on income earned in India? I assume that Indian citizens are required to pay estate tax on their assets worldwide.

Some countries limit the practice of professions to their citizens. For instance, the Philippines restricts the practice of certain professions to Philippine citizens, so in order to connive to practice my profession in the Philippines, I must retain Philippine citizenship. Ownership of land is also sometimes restricted to citizens, if India imposes this restriction then your plan to own land in India may require one of you to retain Indian citizenship.