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.