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sushil ajmera (Querist)
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17 December 2015 purchase a property form a person (NRI ) live in US. @ Rs. 59,50,000
Can i liable to deduct TDS on payment IF yes than in which section and at which %

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 December 2015 depends on whether it is LTCG or STCG transaction. For LTCG, 22.66%/ For STCG: 33.99% This will be done under Section 195. The rates may vary depending on DTAA/NIL/Lower TDS Certificate.

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CA Chirag Haraniya

CA Chirag Haraniya (Expert)
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17 December 2015 1. TDS will be @ 20.60% in case of LTCG & 30.90% in case of STCG u/s 195 read with Finance Act, 2015.
2. In your case surcharge will not be applicable as the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction does not exceeds one crore rupees
3. Further the deduction of tax is subject to availability of lower deduction certificate.
4. No treaty benefit will be available as in case of immovable property generally same is to be taxed where the situs of the property is situated.

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