OCI holder buying property in Mumbai : TDS?
This query is : Resolved
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
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.
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