Property Purchase from NRI

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MAKARAND DAMLE (Querist)
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21 October 2024 Resident Indian while paying towards Property purchase from NRI has to deduct 20% TDS. He needs to file Form 27Q.
My question is while paying Tax which section should be selected ? Section 112 or Section 115E

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 October 2024 Section 195 of the Income Tax Act, 1961, deals with the tax deduction at source (TDS) on payments made to non-residents, including property transactions.
Section 112 relates to tax on capital gains, & Section 115E pertains to tax on investment income of foreign companies and non-resident individuals, which doesn't apply to this scenario.

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