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Taxes applicaple to nri seller

Tax queries 181 views 1 replies

Hi all,

My flat was allocated to me in Gurgaon, in June 2009.

I am now looking to sell it. In the meantime, I moved out of India and I am NRI now.

I am trying to understand the taxes that will be applicable in case of NRI selling the property. I am now aware of TDS (around 22% which is calculated on capital gain) that would need to be deducted by buyer while making the payment and also aware that I can get a tax certificate in case I feel the tax deductions should be lower.

My questions is, is TDS the only tax I need to account for or Do I need to pay capital gain tax as well on top of TDS?

Cheers!

G

Replies (1)
TDS is part of income tax. TDS is calculated and deducted based on your provisional income. your final ITR or all other income will decide your total tax liability. After calculating tax liability for entire year ; TDS will de deducted what u already paid to govt. And balance you have to pay


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