Tds 1% on purchase of property by nri living abroad

sanjeev kapur (CEO) (56 Points)

08 June 2013  

Sirs,

I am an NRI living abroad and buying an appartment where the builder is asking me to sign 2 agreements, one for sale of undivided share of land and 2nd for construction of an appartment their on.

So 2 separate agreements are being signed ;

Each agreement value is less than Rs.50 Lacs ; if considered separately,

Would 1% TDS be applicable on this appartment purchase.? Note 2nd agreement is a construction agreement "NOT SALE of a immovable property " 

Please give your profession insight on this issue.

Thanks.

Sanjeev Kapur