@nishchay-thebigp , while I am not familiar with the on-line product and its screens,
(a) if you are an NRA during this period ( i.e. you have not passed the SPT ), then there is No implication for US purposes and nothing to re[port
(b) if you are resident for tax purposes ( passed SPT after the exemption period ), you are treated as US person and taxed on world income. You also come under the gift tax reporting --- each year there is free gift amount ( for 2024 it is US$18000 per donor per donee ). Since you may go over this amount, you have to report this on form 709, but there is NO current tax implications . It just acts as a deduction to your life time Gift Tax credit .
(c) The question that is always there is why you are committed to paying an essentially constant amount for a couple of years -- is it paying for something that you are jointly buying ( what and tax implications thereof ) or paying back on a loan ( in which case there is interest earning implications for the recipient) or something else . You may want to share this ( if not here then by PM )
Is there more I can do for you ?
