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Nri tds rate in case of purchase of property from nri


BHUPENDER (ca)     02 February 2012

BHUPENDER
ca 
 66 points

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One of aur client has  purchased property in india from NRI , tds is deducted at 20%.whether this treatment is right ?

avater

valji (Accounts manager-MBA)     02 February 2012

valji
Accounts manager-MBA 
 247 likes  2148 points

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IT IS SAFER SIDE TO DEDUCT tds @ 20%

YOUR CLIENAT DONE RIGHT THING

avater

Vineet Goyal (Assistant Manager - Finance & Accounts)     02 February 2012

Vineet Goyal
Assistant Manager - Finance & Accounts 
 63 likes  697 points

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Sale of property by Non-Resident will be either short term or long term capital gain for Non-resident. According to Section 195, tds will be applicable to any income taxable in India and tds will be applicable on the income part only, not on whole sale consideration. Therefore, if the Non-resident has either short term or long term capital gain, TDS will be applicable on this as per specified rate. Please note if DTAA specifies different rate, then the TDS rate which will be more favourable to Non-resident will be applicable.

 

But if the PAN no. is not available, TDS rate will be higher of above rate or 20%.


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