194IA Tds on purchase of property from Non resident

When purchasing property from a Non-Resident Indian (NRI), the standard 26QB form for TDS deduction may not be applicable. In such cases, the purchaser is required to obtain a TAN number and deduct TDS as per existing Income Tax sections. The deducted TDS must then be uploaded via a TDS return. Failure to do this can lead to the NRI seller's TDS credit being rejected in their 26AS statement. If you encounter issues, it's advisable to consult a tax professional.