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TDS & Refund for Sale of Property by NRI

TDS 408 views 2 replies

Hello Sir/Madam

My brother, who is a NRI, is planning to sell his apartment, which he purchased in 2006. The buyer informed him that the TDS would be deducted at 20% since he couldn't produce the LDC/Form 13.

My question.

  1. Can the entire 20% + cess be claimed back if the capital gain is Nill?
  2. if so, should he wait until the end of FY to submit the refund and how long will the refund process take?

PS: He doesn't have any other income in India.

Pls help clarify the above questions. Thanks a ton.

Replies (2)

Hi, the TDS rate will be 12.5 % plus surcharge if any and not 20%. Please feel free if you wanna discuss more and want more clarification on below.

ca.ajaakarshjain16 @ gmail.com

Agree with CA Aakarsh Jain.

TDS rate is 12.5% 

Refund of TDS may be possible based on the numbers 

Regards

CA. Raj Doshi

R C D & Co.

Chartered Accountants

Mumbai


CCI Pro

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