Mr Chris a resident of Saudi Arabia, who is Non resident as per income tax act 1961,purchased a residential property in Kerala state in Feb 2011 for rupees 36 lakhs .He wanted to sell the property to a Govt company on July 2015 an Indian Incorporated company with a sales consideration of Rs 2,60,00000/.Govt company is willing to pay entire consideration after deducting tax under section 195 at 20%. on the sales value instead of capital gain portion.
Mr Chris wanted to receive entire sales value without tax deduction as he wanted to buy another residential property for his own usage. Is there any provision in income tax act 1961 which would help Mr.Chris to get entire sales proceeds without deduction @ 20%
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