Menu
tax and tds treatment
indian citizen purchase of flat in bangalore Rs 60 laks, but seller NRI what's the TDS and tax treatment
Replies (1)
Unless the seller approaches the tax official concerned and produces a certificate of any lower deduction of tax, you as a buyer are supposed to deduct TDS on the entire transaction value.
*TDS rate is 22.88 per cent of the deal value if the property is worth anywhere upto Rs 1 crore.
*In case the property is worth over Rs 1 crore, 23.92 per cent of the deal value must be deducted as TDS by the buyer.
Recent Topics :
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
Related Topics :
CAclubindia
