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long term capital gains tax by non-residents Indian and tds liability
Non-residents sale his house in India for rs. 4500000. Purchase price of that property rs. 3500000. PLEASE CALCULATE LONG TERM CAPITAL GAINS. ANY TDS LIABILITY BY BUYER.
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Buyer has to madatorily deduct TDS u/s. 195 of IT act, @ 20.8% over sale proceeds (here 45L), for long term holding i.e. 2 years of more; (or at 31.2% for short term holding); unless the seller obtains lower deduction certificate from his Jurisdictional ITO. & obtain TAN to deposit the TDS....
More :: tds-property-purchase-nri
Please give duration of holding years of buy and sale
Sales after purchase of 3 years
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