TDS % for NRI property sale

Hi,

I am planning to buy a property from NRI sellers. Here two sellers are involved (50% share each). The property registration price is 80 Lakh. The property sale is after 5 years of purchase hence it is in Long Term capital gain.

What is the TDS % including Cess to be paid?. 

In this case there are two sellers, with each contribution 40 Lakh, should I pay two challans (281) with 20.88% of 40L including Cess considering the split value is below 50L?. Or two challans with 22.88 %  (surcharge +cess) each on 40 Lakh considering total value is above 50 Lakh?.

Appreciate a quick help with this.

Replies (3)
Quick Summary
This discussion clarifies the Tax Deducted at Source (TDS) percentage applicable when purchasing property from Non-Resident Indian (NRI) sellers. The query focuses on calculating the correct TDS rate, including cess and surcharge, for a property sale resulting in long-term capital gains. It specifically addresses how to handle TDS when there are two NRI sellers with equal shares and whether to apply the rate based on individual share value or the total property value.

You can consider 20.88% TDS for each individual separately.

Thank you for the quick answer. Much appreciated.

You are welcome.                        

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