Nri can avoid tds from purchaser investment on rec bonds
This query is : Resolved
VIJAY BHASKAR
(Querist)
13 February 2019
SIR/MADAM
AN NRI ASSESSEE SOLD IS PROPERTY1/5 TH SH PROPERTY IN INDIA. REWARD FROM HIS ESTATE OF FATHER RS.45 LAKHS
1. WHETHER INDIA BUYER AS DEDUCT 1% TDS FROM THE SALE
2. WHAT IS THE TAX LIABLITY OF NRI DUE TO TRANSFER OF SALE PROCEEDS TO USA
3. WHAT IS TAX LIABLITY OF BUYER 1/5TH SHARE OF PROPERTY FROM NRI
4. NRI CAN INVEST IN REC BONDS FROM AVOIDING TDS FROM PURCHASER
AN NRI ASSESSEE SOLD IS PROPERTY1/5 TH SH PROPERTY IN INDIA. REWARD FROM HIS ESTATE OF FATHER RS.45 LAKHS
1. WHETHER INDIA BUYER AS DEDUCT 1% TDS FROM THE SALE
2. WHAT IS THE TAX LIABLITY OF NRI DUE TO TRANSFER OF SALE PROCEEDS TO USA
3. WHAT IS TAX LIABLITY OF BUYER 1/5TH SHARE OF PROPERTY FROM NRI
4. NRI CAN INVEST IN REC BONDS FROM AVOIDING TDS FROM PURCHASER
CA. Brijesh Baranwal
(Expert)
20 February 2019
Prima facie it seems that TDS is not applicable in your case. However you should file Income Tax Return and pay due taxes, if any. For transfer of money to outside India, normally Form 15CA/CB is required.
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