Tds on purchase of property from resident and non resident
This query is : Resolved
13 June 2019
Mr.A and Mr.B are joint holders of the property where in Mr.A is a Resident Indian and Mr.B is Non Resident as per Income Tax Act
Property is Purchased by Mr.X for Rs.70 Lakhs out of this Rs.42 Lakhs is to be paid to Mr.A and Rs.28 Lakhs is to be paid to Mr.B Non Resident.
Kindly guide me on deduction of TDS on the above transaction, let me know the rates of TDS and amount to be deducted
and
to my knowledge TDS on Resident is 1%
help me for Non resident TDS whether @ 20.8% or 22.88%
and how to do the TDS Compliances
for Resident have to file form 26QB
and for Non resident - TDS Return
or Both Under Qtrly TDS Return
Property is Purchased by Mr.X for Rs.70 Lakhs out of this Rs.42 Lakhs is to be paid to Mr.A and Rs.28 Lakhs is to be paid to Mr.B Non Resident.
Kindly guide me on deduction of TDS on the above transaction, let me know the rates of TDS and amount to be deducted
and
to my knowledge TDS on Resident is 1%
help me for Non resident TDS whether @ 20.8% or 22.88%
and how to do the TDS Compliances
for Resident have to file form 26QB
and for Non resident - TDS Return
or Both Under Qtrly TDS Return
14 June 2019
Any Suggestions on the Above Query..
27 September 2021
TDS rate for NRI will be 20.8% without surcharge, provided LTCG; otherwise 31.2%.
Both TDS can be reported under quarterly return.
Both TDS can be reported under quarterly return.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
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
