Tds on sale of property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2016 As I am a tax payer in India, and receiving the sale proceeds in India in NRO account (and not NRE account), I think TDS shd be only 1%. Pl confirm.

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2016 and onw more thing Saudi Arab Resdient

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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04 February 2016 In case of resident transferor of immovable property, TDS provisions of section 194-IA will be applicable and the rate of TDS as per that provision is 1%.

Since, you are a non-resident, the provisions of section 195 will be applicable. Entire Capital Gains Tax shall be computed as per section 45 of the Income Tax and same shall be deducted and deposited with the government by the transferee.

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