Real Estate India: Information about selling gifted property

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Question asked by Mr Asma Ashfaq:

Hello

I am interested in selling a property received through a gift deed from my father. Will this invite capital gains tax ?

Regards
Asma Ashfaq

Vatsala Answers:

You can sell the property received through gift deed from your father. It will definitely attract capital gains tax. After payment of the applicable capital gains tax, the balance amount can be repatriated upto a maximum of 1 million US Dollars.

Vatsala
http://www.atoneplace.com

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