One NRI Mr. A is selling his Immovable properties to Mr. B and Mr. C and the registration deeds will be signed in March 2012 and June 2012 respectively. Both the buyers are going to deduct TDS @ 30% on the entire sale consideration. Please guide me-
- That they are right in deducting TDS @ 30% on the Sale Consideration or should deduct on Capital Gain.
- That the seller Mr. A will be suffering long term Capital Loss in the both the deals.
- The procedure for obtaining No TDS deduction certificate from Income Tax department whether to apply in Form 13 or in Form 15D.
- Where to apply for Non TDS Deduction Certificate – whether to Assessing Officer having jurisdiction or to ITO (TDS).
URGENT.