TDS Implication on sale of property by NRI
This query is : Resolved
Suresh S. Tejwani
(Querist)
14 February 2025
At which rate TDS need to be deducted on the above subject, Suppose I have made sale agreement of RS. 11,50,000 then how much TDS should be deducted and in which time it should be paid to the income tax department.
Also explain what are the tax implication in the hands of NRI.
Also explain what are the tax implication in the hands of NRI.
Nikhil Kaushik
(Expert)
14 February 2025
sometimes I read these queries and wonder!
in absence of Lower tax deduction certificate, TDS applicable on the gross amount at the applicable tax rate - which varies based on whether the transaction is short term or long term. if it is long term - whether seller wishes to claim indexation or not.
in absence of Lower tax deduction certificate, TDS applicable on the gross amount at the applicable tax rate - which varies based on whether the transaction is short term or long term. if it is long term - whether seller wishes to claim indexation or not.
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
- Query on effect of registration of property
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Whether output tax is taken credit by purchaser
- Additional trade name
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
