what is the TDS rate applicable for sale of property by NRI to resident individual?
3 Replies
Umesh Mhatre
(owner)
(299 Points)
Replied 08 November 2018
For long term capital gain 20% plus cess.
Piyush Tanwar
(Assistant Manager - Accounts)
(1432 Points)
Replied 08 November 2018
Refer to the below mentioned link:-
https://www.charteredclub.com/tds-property-purchase-nri/
Regards
Piyush Tanwar
9717468521
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 08 November 2018
Dear Poonam,
When purchasing a property from NRI TDS is required to be deducted on capital gain and not on sale price. Therefore the Rates of TDS would be as follows:
If Property is Long term i.e. taken for more than 24 months then 20% (plus SC if applicable i.e. if Property value exceeds 50lakhs/1cr then SC @ 10%/15%) and EC.
If property is Short Term then @ Normal Income tax slab rate.
Thanks. Be helpful to One Another!
When purchasing a property from NRI TDS is required to be deducted on capital gain and not on sale price. Therefore the Rates of TDS would be as follows:
If Property is Long term i.e. taken for more than 24 months then 20% (plus SC if applicable i.e. if Property value exceeds 50lakhs/1cr then SC @ 10%/15%) and EC.
If property is Short Term then @ Normal Income tax slab rate.
Thanks. Be helpful to One Another!
Recent Topics
- How to Proceed with withdrawl of appeal filed with
- TDS 24Q - Annexure II
- No tax liability certificate from PAN AO
- Missed TDS Deduction u/s 194C in FY 2024-25: How t
- Declaration of employment status
- Revised TDS 24-25
- MCA V2 or 3
- Private Limited Company sales
- Build Your Future Safely with Post Office FD Schem
- Section 194T: TDS Application
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
