TDS on purchase of NRI property by Indian resident

Form 27Q must be filed through NSDL website. Once you prepare and generate the TDS file, log on to Income tax efiling portal and upload the TDS file and validate the same. Once this is done, Form 16A can be generated and provided to the deductee (NRI)

Refer: https://www.incometaxindiaefiling.gov.in/help/?lang=eng# for more clarity 

There are two Tax Implications from the point of view of Taxation that is:-

• From the point of view of Seller (NRI):-

NRI will be levied Capital Gain Tax ( either it may be a Long term or short term ) as the case may be.

Long term capital gains are taxed at 20% and short term gains shall be taxed at the applicable income tax slab rates for the NRI based on the total income which is taxable in India for the NRI.

• From the point of view of Buyer (Indian Resident):-

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

So these two Tax implications must be considered from the tax point of view.