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TDS on Sale of Property by NRI

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(Querist)
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.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
15 February 2020 22.88% TDS under section 195 has to be deducted
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swasti

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swasti (Querist)
15 February 2020 Thanks a lot Sir for the expert advise. That means the purchaser has to apply for TAN.
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Gokul Sharma

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Gokul Sharma (Expert)
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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
15 February 2020 TAN is necessary to deduct TDS 26QB not applicable to NRI seller.
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swasti

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swasti (Querist)
17 February 2020 Thanks a lot Sir
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