NRI Seller -tds not deducted

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Student
37 Points Posted on 22 October 2023

Can someone please help.

A senior citizen (nri) sold his property in India recently worth Rs. 15lacs. He account was credited with the entire sale price and no tds was deducted by the buyer. 

1) should've the buyer deducted 20% plus surcharge?

2) what can the seller do now. Should he pay this tds himself, if yes.  What is the procedure?  

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On 22 October 2023 at 07:06 Report
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Quick Summary
A senior citizen NRI sold property in India for Rs. 15 lacs, but the buyer failed to deduct TDS. The discussion clarifies that the buyer should have deducted 20% TDS under Section 195. The seller can now choose to pay the TDS themselves and should follow the prescribed procedure. Alternatively, the buyer could pay the TDS and seek reimbursement from the seller.

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CFO- at NHTF
15022 Points Posted on 22 October 2023
The transaction is covered by Section 195 , payment to non resident and provisions of sale of immovable property has no relevance in NRI taxation

Hence the buyer rightly deducted tds at 20%
1 Reply
On 22 October 2023 at 20:01
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Profession
19974 Points Posted on 23 October 2023
Nri seller
sale details.
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On 23 October 2023 at 13:44
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Practising CA
5649 Points Posted on 06 November 2023
You can speak with the seller and if he agrees then pay the TDS and take a refund from the seller. There is one another special advice, for which you may please connect personally. Check PM for details.
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On 06 November 2023 at 03:01

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