Tds 1% on purchase of property by nri living abroad

TDS 991 views 1 replies

Sirs,

I am an NRI living abroad and buying an appartment where the builder is asking me to sign 2 agreements, one for sale of undivided share of land and 2nd for construction of an appartment their on.

So 2 separate agreements are being signed ;

Each agreement value is less than Rs.50 Lacs ; if considered separately,

Would 1% TDS be applicable on this appartment purchase.? Note 2nd agreement is a construction agreement "NOT SALE of a immovable property " 

Please give your profession insight on this issue.

Thanks.

Sanjeev Kapur

Replies (1)

To me it looks that this arrangement may escape the clutches of TDS laws newly introduced from 1st June 2013.

 

 

Anuj

femaquery @ gmail.com


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