While filing return Form 27Q data to be filled for the rate of deduction is 12.5% or effective rate 13% with cess.
TDS for immovable property purchased from NRI less than 50Lakhs.
Janaki A.R (9 Points)
06 January 2025While filing return Form 27Q data to be filled for the rate of deduction is 12.5% or effective rate 13% with cess.
TDS for immovable property purchased from NRI less than 50Lakhs.
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5861 Points)
Replied 06 January 2025
For TDS on immovable property purchased from an NRI, the rate of deduction is indeed 20%.
This is incorrect, as the cess is not applicable to the TDS rate in this case.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961