Tds on sale of immovable property
This query is : Resolved
14 August 2018
Sir,
what is the applicability of TDS on sale of immovable property by a Non Resident to a Non Resident. whether the NRI is required to deduct TDS on this transaction ? Can I know the applicable sections ?
what is the applicability of TDS on sale of immovable property by a Non Resident to a Non Resident. whether the NRI is required to deduct TDS on this transaction ? Can I know the applicable sections ?
14 August 2018
In case of Long term CG If property value is less than 50 lakhs Tax 20% +4% Cess = 20.8%
If it is above 50 Lakhs Below 1 crore 20%+10% Sc+ 4% Cess=22.88%
If it is above 1 Crore 20%+15%+4%=23.92%
Short term Applicable Slab + SC+ Cess
If it is above 50 Lakhs Below 1 crore 20%+10% Sc+ 4% Cess=22.88%
If it is above 1 Crore 20%+15%+4%=23.92%
Short term Applicable Slab + SC+ Cess
30 August 2018
The above provisions are same for transaction between NRIs ? Or is it required to deduct TDS in this case, as both the parties are Non Residents ?
28 September 2021
Yes, even if the purchaser is NRI, he has to follow the same rules, if the property which he intends to purchase is in India.
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
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
