Tds on property bought from NRI
This query is : Resolved
17 November 2022
Sir,
Could you please confirm the tds rates on purchase of property from NRI ?
Properties valued less than INR 50 lakh: Total tax 20.80% (including surcharge and cess)
Properties valued between INR 50 lakh and INR 1 crore: Total tax 22.88%
Properties valued above INR 1 crore: Total tax 23.92%
Could you please confirm the tds rates on purchase of property from NRI ?
Properties valued less than INR 50 lakh: Total tax 20.80% (including surcharge and cess)
Properties valued between INR 50 lakh and INR 1 crore: Total tax 22.88%
Properties valued above INR 1 crore: Total tax 23.92%
17 November 2022
Correct, that is due to 10% cess over 50 lakhs to 1 Cr. and 15% cess over 1 Cr to 2 Cr.. (provided the holding of the property by NRI seller is 2 years or more). In case it is less than 2 years, then the rate would change.
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