a property was purchased by a NRI from a resident for Rs 1 Crore.
is tds applicable in this case?? and if yes at what rate??
As per section 194IA, if the seller is 'Resident', TDS will need to be deducted at 1% if the consideration is Rs. 50 lakhs or more. In the instant case, TDS will be applicable and will need to be deducted at 1% on Rs. 1 crore.
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