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TDS on Sale of Property by NRI

This query is : Resolved 

An NRI having a house property in India wishes to sell it to a Resident. The sale price exceeds Rs 50 Lakhs. What TDS has to be deducted by the resident - 1% or 20%? Kindly advise.


22.88% TDS under section 195 has to be deducted


Thanks a lot Sir for the expert advise. That means the purchaser has to apply for TAN.


TDS on immovable property has to be paid using Form 26QB within 30 days from the end of the month in which TDS was deducted
no tan no required.

TAN is necessary to deduct TDS 26QB not applicable to NRI seller.


Thanks a lot Sir


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