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TDS on Property (NRI)-Urgent

Others 344 views 1 replies
hi
as per Sec 195 TDS on sale of property by NRI to Indian is to be paid either on Gain or on entire amount of consideration.
As per the law if we want to pay only on capital gain then application is to be made to AO in a prescribed format.
I would like to request to please share the format for the same and how much time it takes
Replies (1)

Yes, TDS on sale of property would be deducted @ 20% + Cess  + Surcharge on the entire sale consideration. 

However, an NRI can get this reduced by filing an application for Lower Deduction of TDS with the Income Tax Officer. The tax officer will verify the application along with supporting documents and if deemed fit, he will issue an application for Lower Deduction of TDS.

This application for Lower Deduction of TDS is required to be filed by the NRI in Form 13 and can be filed online.


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