Tds on u/s- 195 on purchase of property from nri
This query is : Resolved
SIVA SHANKAR PANDA
(Querist)
31 May 2017
Please help me out regarding rate of TDS on purchase property from NRI.
Message likes :
2 times
CA R SEETHARAMAN
(Expert)
31 May 2017
Full capital gains tax has to be worked out and deducted as TDS u/s 195.
Message likes :
1 times
SIVA SHANKAR PANDA
(Querist)
31 May 2017
In some sites i have been found tds rate u/s-195 is 20.66% whether it is correct.
1.If it is correct how it is computed??
2.If it isn't correct what is the tax rate & how it is computed??
1.If it is correct how it is computed??
2.If it isn't correct what is the tax rate & how it is computed??
CA R SEETHARAMAN
(Expert)
01 June 2017
It is right it is the rate for long term capital gains rate. You have to apply the rate on the capital gain worked out reducing the indexed cost of acquisition from the net sale consideration.
SIVA SHANKAR PANDA
(Querist)
01 June 2017
Thank you ji,Please guide tax rate & how it is computed ??
CA R SEETHARAMAN
(Expert)
02 June 2017
Long term capital gains rate is 20.66%.
Use the link to calculate capital gain.
https://finotax.com/income-tax/cgcalc
Use the link to calculate capital gain.
https://finotax.com/income-tax/cgcalc
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