Long term capital gain if one of the party is nri

Dear Experts,

I am purchasing a property where the son is a NRI and father is a indian resident. The property is registered as co-owned by the father and son. While I am pushing for a 20% + taxes deduction in TDS based on the laibility computed by the income tax officer, the bank and the owners are saying that since the father is resident and their bank details + address will be local only 1% TDS should be computed. 

Seeking your expert guidance.

Rahul

Replies (2)

In such cases it is always advisable to obtain lower tax liability certificate from Seller's jurisdictional ITO. And deduct TDS as per the ceritificate provided by the officer.

Thanks a ton! This really helps.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details