Tds on nri property purchase
This query is : Open
13 July 2017
I am planning to buy flat from NRI for 1.1 crore in ahmedabad 9 year old. I read on internet that property purchased from nri attract tds of 20.66 percent to be deducted by buyer. However the seller is telling that tds will be 1percent only .Please advise what is the tds to be deducted. Also what are the other formalities required to be done in case of nri property.Thanks
13 July 2017
tax will be deducted as per DTAA which normally is around 20.66%
you need to deduct the TDS, file TDS return etc to comply with the TDS regulations.
you need to deduct the TDS, file TDS return etc to comply with the TDS regulations.
13 July 2017
Conversely ,1% deduction applies if and only if the seller is RESIDENT in India.
24 July 2017
Thanks sir, also can you suggest me good CA in Ahmedabad who can help me out in this procedure.ThanksVikas
24 July 2017
Thanks sir, also can you suggest me good CA in Ahmedabad who can help me out in this procedure.ThanksVikas
24 July 2017
Thanks sir, also can you suggest me good CA in Ahmedabad who can help me out in this procedure.ThanksVikas
24 July 2017
Thanks sir, also can you suggest me good CA in Ahmedabad who can help me out in this procedure.ThanksVikas
24 July 2017
Thanks sir, also can you suggest me good CA in Ahmedabad who can help me out in this procedure.ThanksVikas
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