TDS ON PROPERTY SALE/PURCHASE

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A.Senthil Subramanian (Querist)
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11 September 2021 Dear all Experts, Please clarify me, In sale of property, If both buyer and seller are NRIs and property in India what are the tax implications to be followed.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 September 2021 The buyer has to deduct TDS @ 20% plus cess and surcharge on total sale value.

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A.Senthil Subramanian

A.Senthil Subramanian (Querist)
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13 September 2021 Thank you sir. One more issue please clarify sir. Sale value above 1 crore & under short term capital gain. So how to apply TDS rate sir? Either by 30% on First 50lakhs, 30% plus surcharge 10% on next 50 lakhs, and 30% plus surcharge 15% on rest of the value or flatly 30 % TDS and 15% surcharge on the entire value of the consideration. Thanks in advance sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 September 2021 Flatly 30 % TDS and 15% surcharge on the entire value of the consideration.

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A.Senthil Subramanian

A.Senthil Subramanian (Querist)
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14 September 2021 Kind thanks for the in-time reply sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 September 2021 You are welcome...........

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