Get help with e-filing, investments and taxes

Search for anything below or browse by topic
Popular topics: ITR-V, Form-16, e-filing, CA-Assisted Services

1% TDS on sale of property for NRIs

Comments

5 comments

  • Avatar
    Saikat Mondal

    Hello, I am planning to purchase one property in Kolkata, WB, India from NRI seller.

    Actual Sale Price=INR 35,00,000 on Feb 2019
    Actual Purchase Price=INR 10,22,200 on 2011


    My Queries:

    1> Is TDS needs to be deducted on this transaction as property value is less than 50L INR

    2> If TDS needs to be deducted, what would be the calculation and TDS amount.

    3>  Is TDS needs to be calculated on actual sale value or on the capital gain.

     

    0
    Comment actions Permalink
  • Avatar
    Jai

    Planning to buy property from NRI
    Seller is insisting to deduct TDS as per capital gain only
    What we should do?

    0
    Comment actions Permalink
  • Avatar
    Anand

    In one of your other blogs, you had mentioned that TAN is not needed for TDS on sale of property. But this post contradicts. We are buying property from NRI. Is TAN mandatory?

    0
    Comment actions Permalink
  • Avatar
    noora khan

    very informative blog on NRI lower TDS certificate 

     
    0
    Comment actions Permalink
  • Avatar
    Ravi

    Hello Sir, I find this blog very informative and thanks for the information. I am a non resident Indian (OCI). I am planning to sell a property in India to another non-resident Indian (OCI). How will the capital gains tax deduction work when both buyer and seller are NRIs (OCI). Both of us have Pan cards but no Aadhar card as it is not applicable for citizen of other country. Will the buyer although NRI still has to deduct TDS from sale price when buying from a NRI seller.Can you please explain the sale procedure.

    Also, can the purchase money translation be done outside India or does it need to be within India only before  transferring out of India to the country where I live.

    Regards,

    Ravi 

    0
    Comment actions Permalink

Please sign in to leave a comment.