🇺🇸 Valuing your Indian property from United States
No, US citizenship does not force you to sell your Indian property. Here is what actually triggers the paperwork.
Where United States rules reach your Indian property
Step up in basis at death
US law gives you a fresh cost basis equal to the market value on the date the previous owner died. India does not. The same house often needs a date of death valuation for your US return and a 1 April 2001 valuation for your Indian one.
FBAR and Form 8938
Property you own directly is generally not reportable on either form. The accounts your rent flows through can be. Your CPA decides. We give them defensible property numbers.
Form 3520
A gift or inheritance from a non resident relative above the reporting threshold has to be declared, with the market value stated.
No estate tax treaty
India and the US have no estate tax treaty, so a US domiciled person holding Indian property has real exposure. Worth planning early.
Clients we look after in United States
Tell us the time that suits you and we will call then. WhatsApp is easiest for everyone, and it works from any country without a local number.
The reports United States clients ask for most
Capital Gains and FMV 2001
The report that fixes your cost base before you sell, so you are taxed on the real gain and not on the whole sale price.
Read more → Saves the most moneyLower TDS Certificate, Form 13
Support pack for the Section 197 application, so the buyer deducts tax on your actual gain instead of the full sale value.
Read more →Inheritance and Partition
One neutral number that every heir can accept, whether you are selling, dividing or buying a sibling out.
Read more →Living in United States? Let us tell you which report you actually need.
Tell us the situation in your own words. Two minutes on WhatsApp usually settles which report it is, what date it has to be as at, and which papers to dig out first.