TDS on Sale of Property by NRI
This query is : Resolved
15 February 2020
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.
15 February 2020
22.88% TDS under section 195 has to be deducted
15 February 2020
Thanks a lot Sir for the expert advise. That means the purchaser has to apply for TAN.
15 February 2020
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.
no tan no required.
15 February 2020
TAN is necessary to deduct TDS 26QB not applicable to NRI seller.
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