TDS RATE ON PROPERTY OWNED BY NRI IN INDIA

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Accts Assistant
141 Points Posted on 22 April 2022
Normally tds have to be deducted @ 10%

but if the property is owned by NRI..them what is the rate of tds???

it is 31.2% including cess

but the owner's CA is asking me to deduct @ 10 percent only...saying that owner hav been filing it returns for last 2 years...

is it right to do so???

kindly reply at the earliest
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On 22 April 2022 at 09:33 Report
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Quick Summary
This discussion explores the correct TDS (Tax Deducted at Source) rate for property transactions involving Non-Resident Indians (NRIs) in India. While the standard rate is 10%, the applicable rate for NRIs can be higher, often around 31.2% including cess. The thread questions whether a lower rate of 10% is permissible if the NRI owner has been filing tax returns in India for the past two years, or if the property was constructed using funds from an Indian savings account or inherited.

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Profession
28271 Points Posted on 24 April 2022
How he has constructed the house property from a savings bank account in India but income earned in India?
If it is out money transferred from foreign funds then it is a different question.
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On 24 April 2022 at 17:43
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Accts Assistant
141 Points Posted on 26 April 2022
It had been passed to him by his ancestors
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On 26 April 2022 at 21:45

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