I have a friend in Australia, Ashish. He owns a land here in India which will be developed by my company. Whatever flats will be sold, money will be deposited into Ashish's NRO A/c directly by the buyer.
I wanted to know the Tax implication at the time of deposit of money into NRO A/c and also while transferring funds from NRO to NRE
Will individual buyer have to apply for TAN in order to be able to deduct Tax
What will be the applicable tax rates for each kind of transaction