vijayrc
Registered Users (C)
Hi,
Just wondering on a particular topic to see if anyone has some answers to this.
I'm thinking of buying a property in India and with interest rates 10% in HDFC and the $1=50USD, I'm of the opininion to use my savings to buy the house [23lakhs]. I have to pay 3.75lakh first followed by 2lakh in 10 installments roughly. I have couple of concerns here
[1] I'm doing an initial transfer of $7500 for the 3.75lakh [Would this be seen as some abnormal acitivity to be flagged by IRS]
[2] I'll be sending $3300/month for 10-12 months [Would this regular sending of money be seen as some abnormal activity to be flagged by IRS]
If any of you have some light, please shed or if you have done in the past like this, that would give me some comfort in doing this.
My other option is to go for a loan in India with that 10% interest and pay it over a period of 7 years.
Any advice/direction is appreciated.
thanks.
Just wondering on a particular topic to see if anyone has some answers to this.
I'm thinking of buying a property in India and with interest rates 10% in HDFC and the $1=50USD, I'm of the opininion to use my savings to buy the house [23lakhs]. I have to pay 3.75lakh first followed by 2lakh in 10 installments roughly. I have couple of concerns here
[1] I'm doing an initial transfer of $7500 for the 3.75lakh [Would this be seen as some abnormal acitivity to be flagged by IRS]
[2] I'll be sending $3300/month for 10-12 months [Would this regular sending of money be seen as some abnormal activity to be flagged by IRS]
If any of you have some light, please shed or if you have done in the past like this, that would give me some comfort in doing this.
My other option is to go for a loan in India with that 10% interest and pay it over a period of 7 years.
Any advice/direction is appreciated.
thanks.