Tds on property sold by nri
This query is : Resolved
25 February 2020
My relative is a foreign citizen and has sold a residential property in pune for 69lacs to an in indian citizen in Jan 2020. But the agreement was done by power of attorney, and the buyer had wrongly deducted 1% tds. Now I came to know that he should have deducted as per NRI. Now what should be done. Please suggest.
25 February 2020
now you can deduct in the month of feb, the difference
25 February 2020
You mean that I should pay the rest 19% tds in this month?
Then do we have to make a correction deed with the registrar?
Then do we have to make a correction deed with the registrar?
25 February 2020
01. why to make correction deed?
02. Is that NRI having indian PAN?
02. Is that NRI having indian PAN?
25 February 2020
If we pay 20% tds then the final figure will change in the deed as the buyer had deducted 1% tds.
Yes he was NRI since last 5 years and became a Swedish citizen last year.
Earlier we use file his ITR on Indian pan, but have not filed his last 2 years ITR as he had no income here in India.
Please suggest.
Yes he was NRI since last 5 years and became a Swedish citizen last year.
Earlier we use file his ITR on Indian pan, but have not filed his last 2 years ITR as he had no income here in India.
Please suggest.
26 February 2020
Income from long term capital gain... rate of TDS is 10%
https://www.bankbazaar.com/tax/section-195.html
Now you can deduct 9 %.
(If full consideration has been paid, please ask the seller to pay 9%)
https://www.bankbazaar.com/tax/section-195.html
Now you can deduct 9 %.
(If full consideration has been paid, please ask the seller to pay 9%)
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