TDS
This query is : Resolved
09 June 2020
Sir, i live in USA but have a property in India at Hyderabad, Lakdikapul. I am selling it this month. i have given GPA to my cousin, she will sign it on my behalf. please let me know if any TDS or capital gain tax is applicable on this. if so how much
purchase date: 22nd Nov, 1999
purchase price : 2,60,400
sellling price : 21,08,000
Thank you very much,
purchase date: 22nd Nov, 1999
purchase price : 2,60,400
sellling price : 21,08,000
Thank you very much,
09 June 2020
TDS of 20% plus SC and cess applicable on entire sale value. File return and claim refund of excess TDS.
09 June 2020
sir, but sale value is less then 50 lakhs..even then is TDS applicable.?
10 June 2020
Sir ..can you plz reply to my above query.. Thanks in advance.
10 June 2020
50 lacs limit not applicable to nonresdent.
20% TDS applicable for sale of property by nonresdent.
20% TDS applicable for sale of property by nonresdent.
Message likes :
1 times
10 June 2020
Sir, if you are person of Indian origin than in my opinion 20% TDS plus CESS on LTCG is applicable.
Message likes :
1 times
10 June 2020
Sir is it necessary for buyer to deduct TDS from sale amount at the time of payment,
can seller claim full refund of TDS later
in my case if i come to India and make the sale , will i still be treated a Non resident and TDS applicable.
because i have aadhar card as Id proof.
can seller claim full refund of TDS later
in my case if i come to India and make the sale , will i still be treated a Non resident and TDS applicable.
because i have aadhar card as Id proof.
10 June 2020
It's necessary for buyer to deduct TDS from sale amount at the time of payment, seller can claim full refund of TDS later if it's not taxable.
If you come to India for a short visit to sell the property you will be considered as nonresdent.
If you come to India for a short visit to sell the property you will be considered as nonresdent.
Message likes :
1 times
10 June 2020
Sir, one more question..what about Capital gain tax..do I have to pay this also apart from TDS deduction by buyer
10 June 2020
Capital gains tax will be adjusted against TDS deducted and balance amount will be refunded on filing ITR.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
