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TDS on agricultural property owned by NRI

This query is : Resolved

Rajasekhar Bhetala (Querist)
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30 March 2024 I am buying an agricultural property owned by an NRI for an amount greather than 50 lakhs.
Should I pay TDS for the agricultural property considering it is owned by an NRI residing outside India for more than 180 days in a year ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 March 2024 If you are buying rural agricultural land, then no TDS is applicable since such land is not considered a capital asset.

Lekshmi

Lekshmi (Expert)
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05 April 2024 You are dealing with NRI and agricultural land here- make sure the provisions of FEMA are adhered to.

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