25 February 2020
My relative is a foreign citizen and has sold a residential property in pune for 69lacs to an in indian citizen in Jan 2020. But the agreement was done by power of attorney, and the buyer had wrongly deducted 1% tds. Now I came to know that he should have deducted as per NRI. Now what should be done. Please suggest.
25 February 2020
If we pay 20% tds then the final figure will change in the deed as the buyer had deducted 1% tds. Yes he was NRI since last 5 years and became a Swedish citizen last year. Earlier we use file his ITR on Indian pan, but have not filed his last 2 years ITR as he had no income here in India. Please suggest.
26 February 2020
Income from long term capital gain... rate of TDS is 10% https://www.bankbazaar.com/tax/section-195.html Now you can deduct 9 %. (If full consideration has been paid, please ask the seller to pay 9%)
CAclubindia
