I was working in India for the past 2 decades. I recently moved Outside India (from the beginning of this FY) under inter company transfer where parent company is same. The tenure of my transfer is not pre-defined, but I assume it'll be upto 2 years.
I am selling a property in India, and I want to know if I will be considered NRI for this FY today? Because till date only about 120 days have passed in this FY, and for all previous years I was a resident.
I plan to close the sale transaction by September 15, and I currently hold a regular savings account in India (not NRE/NRO).
Please guide.
Will the buyer deduct 1% or 14.95% TDS for my property sale transcation? And do I need to convert regular account to NRE/NRO account today?
CAclubindia
