Flat buy from nri

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vikas garg (Querist)
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08 May 2017 I am going to purchase flat from NRI in ahmedabad. I just need certain clarifications and advise in this regard1. What is the process of the deal right from negotiation. Like if we arrive at some figure after negotiation and give him token money then at that time how to legally bound him so that the seller dont change stand.2. What are the tax implications on nri seller and indian buyer.3. The seller is asking me 60 40 blackmand white ratio then how to give him the 40 blck value since i have all white.4. Please elaborate the whole process till registration Thanks a lot RegardVk garg

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 May 2017 1 Execute agreement for sale mention the advance paid and penalty for breaking the agreement.
2 NRI seller has to bear capital gain tax which will be fully deducted by seller. Buyer has to deduct full capital gain tax u/s 195.
3 Pay him full white money through bank.

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