OCI holder buying property in Mumbai : TDS?
This query is : Resolved
Puja Doshi
(Querist)
03 November 2023
Hi
I am an OCI holder and buying a property in Mumbai in only my name. What kind of taxes with respect to TDS? Are there any cons as to buying property in my name? Please advice
Thank you
I am an OCI holder and buying a property in Mumbai in only my name. What kind of taxes with respect to TDS? Are there any cons as to buying property in my name? Please advice
Thank you
CA R SEETHARAMAN
(Expert)
04 November 2023
No taxes applicable for you.
Only you have to deduct TDS 1% from the seller if property value exceeds 50 lacs.
According to the regulations outlined by the FEMA, individuals holding an OCI card have the freedom to invest in both residential and commercial real estate.
Only you have to deduct TDS 1% from the seller if property value exceeds 50 lacs.
According to the regulations outlined by the FEMA, individuals holding an OCI card have the freedom to invest in both residential and commercial real estate.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Employee secondment
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- Applicability of tax on invoice
- Closer of business and itc of capital goods
- LLP audit and disclosure
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
