TDS on buying property from Non Resident Imdian (NRI)

1. When an NRI sells property, the buyer is liable to deduct TDS @ 20%+4%EC. In case the property has been sold before 2 years(reduced from the date of purchase) a TDS of 30% shall be applicable.

2. Only Buyer

3. TAN is mandatory

4.The buyer is required to deposit the TDS with Govt. within 7 days from the end of the month in which the TDS has been deducted. (Challan No – 281) The buyer is required to submit the TDS return in Form 27Q.