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TDS on immovable property sale by NRI

TDS 475 views 5 replies

Dear experts

Please clarify following:-

 

1. What is the TDS rate  on immovable property sale by NRI.

2. Is it calculated on the sale value of the property OR on the Capital Gain 

3. Sale will take place in April 2021

 

Thanks and regards

 

P Narayanan 

Replies (5)
Please clerify sale will take place after April 2022 , you have written April 21 ?. please inform purchase date of property .

Dear sir,

 

sale will take place after April 22.  Property purchased in March 2016 

 

thanks

Ok
1) TDS will applicable 20 % + surcharge + Edu cess .

2) It's Long term capital gains ,

3) Long term capital gains will be calculated by Income tax Department , you have to apply for the same with income tax department for calculation of Long term capital gains and TDS.
Which section tds?

Secr 195. Note The buyer has to obtain TAN no and deduct TDS of 30%+Surcharge in case of short term gain and 20%+ surcharge in case of LTG. Buyer has to upload TDS return which will reflect in 26AS of seller (NRI).

In case NRI wants to claim reduction in TDS by way of paying actual capital gain tax or by investing Capital gain into saving instruments allowed then he has to apply to Income Tax Dept for deduction of Lower Tax sanction.


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