Trusts & Estates Law/Real estate India


Dear Prof. Swapan Garain,

My wife and I are NRIs, since the last 1982. My wife made a gift deed in my favour last year of her house in Chennai. She acquired the land in 1979 and built the house in 1981, all of it costing Rs. 3 lacs.

I plan to sell the house this year for about Rs. 3 cr. I request you to advise me regarding the following:

For capital gain calculation,  will the indexation be based on 1981 as the year of construction or the year of the gift I received?

After paying the capital gain tax, what is the maximum amount I will be allowed to repatriate, is it $100,000 or up to $1 mill.

I am going to engage a CA, whom I have not known before, therefore your advice will provide me the confidence to judge.

Kind regards,


Dear  Narayan

The indexation will be from the year of completion of construction of the house.

After paying the tax and other dues, you can repatriate the money.

It is advisable to hire a CA who has relevant experience.

Hope that helps

Dr Garain  

Trusts & Estates Law

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