Hello,
I have one Query, if NRI (Individual) sells his property in india, whether TDS is dedcutible on sale consideration by purchaser or any other?
If yes, please give details. Thanks..
2 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 07 March 2011
TDS is inapplicable on sale and purchase, however during the permission stage of CIT for transpfer of property , the authoriy may issue instructions to deposit the tax at the time of registration, against the application made for permission by the seller.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 31 March 2011
TDS shall be applicable u/s 195 to the buyer.
The buyer should deduct TDS or ask NRI to obtain lower deduction certificate from ITO.
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