Hello,
I want to purchase a property in Mumbai whose owner is a NRI. What are the provisions of TDS on the same? In which section is this dealt?
Dhawal Mohnot
(Practicing)
(449 Points)
Replied 21 February 2013
In my view.
Sec.195 deals with such cases. TDS is required to be deducted towards any payment made to a non resident individual. To my knowledge even a NRI is a non resident as far as the defiinition for non resident goes.
Rate of TDS will depend on the long term or short term gain arising at the hands of the NRI. for STCG 30% for LTCG 20%.
We can wait for other views as well.
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