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I am a retired foreign citizen with an OCI card and a tax resident of India, and have been filing annual returns, including foreign pensions credited to my Indian account, regularly. My wife, an Indian citizen and homemaker, has no income and is not a taxpayer. Can I transfer funds from abroad to her as a gift or by selling investments, insurance maturity funds, or pension payouts? If yes, what will be the tax implications for her, and can she invest the funds in bank FDs, equity funds, or property?
—Name withheld on request