sir, I am a NRI I intend to sale out my Flat in india which value above 50laks .Please informe me how my tax deduct from purchaser at the time of sale of property.I have not any others income. 1 percent deduct or full rate of tax impliment.
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Quick Summary
This discussion clarifies the Tax Deducted at Source (TDS) for Non-Resident Indians (NRIs) selling property in India valued over 50 lakh rupees. Unlike resident Indians who typically face a 1% TDS, NRIs are subject to the full rate of tax unless they have obtained a lower deduction certificate from their Income Tax Officer. The purchaser is responsible for deducting this TDS at the time of sale.