Hello,
I have one Query, if NRI (Individual) sells his property in india, whether TDS is dedcutible on sale consideration by purchaser or any other?
If yes, please give details. Thanks..
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Sale of Property by NRI, TDS?
Replies (2)
TDS is inapplicable on sale and purchase, however during the permission stage of CIT for transpfer of property , the authoriy may issue instructions to deposit the tax at the time of registration, against the application made for permission by the seller.
TDS shall be applicable u/s 195 to the buyer.
The buyer should deduct TDS or ask NRI to obtain lower deduction certificate from ITO.
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