My query is , whether a person Not Ordinarily Resident in India or Person of Indian Origin in Dubai can sell his property for Rs 60 lakhs in India. If yes , what are the TDS rates and formalities and documents involved for deduction of TDS.
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SALE OF FLAT BY NOT ORDINARILY RSEIDENT IN INDIA OR PERSONS OF INDIAN ORIGIN IN DUBAI
Replies (3)
Quick Summary
If he is resident of Dubai, he would be NRI for India.
Yes, he can sell the property, TDS will be deducted u/s. 195 of IT act.
Sir, Seller is Indian and now staying in India but for FY 2021-22 ,he is Not ordinarily Resident in India.Can he sell flat in India and what rate of TDS is to be deducted .Thanks
Yes, you can purchase from him. Deduct TDS u/s. 194 IA of IT act..
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