Hello Members,

I have query regarding the TDS tax implications pertaining to sale of NRI's property in India.

1.Is the 1% TDS deduction applicable on sale of NRI property in India, some say it's applicable only on capital gain and not on total sale proceeds. Also in case there is no capital gain arising, the buyer need deduct any TDS.
2. For computation of capital gain tax, shouldn't we consider the CII - Cost of Inflation index where in the fair cost of property acquisition would rise compared to actual cost of acquisition post taking inflation into account
3.Is it mandatory for the NRI seller to obtain the Capital gain certificate from the IT authorities and provide the same to the buyer so he need not deduct any TDS in case of no capital gain arising.
4. Some website says buyer also need to deduct 20-22% TDS of the total sale consideration, and deposit the same with IT department. But the same may not be applicable in case no capital arising or NRI selling property at a loss.
T
Rgds
Dipin

We are a importer, & purchase goods from abroad countries. While purchasing we paid
custom duty, clearing & forwarding charges, freight etc. At the time of accounting we accounted ,purchase, custom duty, C&F charges, freight separately. Is this method is
correct or is all import exp. including custom duty to be debited to import purchase
account. Please guide us correct method & which Indian Accounting Standard,this
method or description indicated.

Thanking You,

Regards
Rajkumar Gutti

I want to construct my house. If i take a loan from bank for construction of my house in july 2017 and suppose my house construction completed in july 2018. then how can i claim tax benefit of EMI started from month july 2017

Hello Everyone,
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