🇴🇲 Valuing your Indian property from Oman

Same structure as the rest of the Gulf

No personal income tax in Oman, so there is no Omani charge on a gain from selling Indian property and no foreign tax credit to work out. Everything that matters happens on the Indian side.

Certification is what releases your money

Banks in India will not move sale proceeds out until a chartered accountant has certified the transaction. That certification depends on the capital gain being computed from a cost that can be evidenced. For property bought before April 2001, or inherited from somebody who bought before then, the evidence is a 1 April 2001 valuation from a registered valuer.

Without it the accountant has nothing to certify from, and the funds stay where they are.

Deduction at source

The buyer deducts on the sale value, not the gain, unless a lower deduction certificate is obtained first. Obtaining it after completion is not possible. This is the difference between keeping your money and reclaiming it a year later.

Repatriation limits

The annual limit applies from your non resident ordinary account, which for most single property sales is ample, but worth checking against the sale value before you plan.

Inherited property

You step into the shoes of the person you inherited from for both cost and holding period. Several heirs can be served by a single valuation, with each taxed on their own share.

Practicalities from Muscat and Salalah

Ninety minutes ahead of India. Send the address and whatever papers you hold, photographed on a phone, and we will tell you what is workable before you commit to anything.