19 January 2022
Can I buy flat from Not Ordinary Resident in India or Person of Indian origin from Dubai .Cost of flat 55 lakhs,how much TDS to be deducted and other documents required.
19 January 2022
As per Section 6(6)(a) of Income Tax Act, 1961 an individual is a NOR if an individual who has been a non-resident in India in 9 out of 10 previous years preceding that year, or has during the seven previous years preceding that year been in India for a period of 729 days or less. Do you mean to say the person is not ordinary resident as per the said definition? If yes, sec. 194-IA would be applicable.
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