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Purchase of property from NRI
X a resident individual in india purchase a flat from N RI, worth ₹ 60 L, please let me know what are the tds provisions applicable for tds, rate of tds, section under which tds liability arise
Replies (1)
Tax need to be deducted @ 20.80% under section 195 on the amount of sale consideration. Purchaser need to apply for TAN and file tds return.
seller can apply for short deduction or nil tax to their respective assessing officer and give the certificate to purchaser issued by assessing officer
seller can apply for short deduction or nil tax to their respective assessing officer and give the certificate to purchaser issued by assessing officer
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