Hi,
Can any one help me out, if a NRO sells a site which is long term capital gain in India and buyer deduct TDS only 1%. In this situation should NRO pay advance tax on or before 15th of Mar??
Thanks in advance
Venkat
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Tds treatment on sale of site by a nro
Replies (4)
If the seller is Non Resident, then the TDS deduction would be 20% and not 1%. (unless any lower deduction certificate issued by ITO). Better get rectified the mistake.
Thank you so much sir.
Buyer has deducted only 1% . what is way out to rectify this mistake?. 1%. pl guide
Either pay the balance amount with interest....... Or.....
You pay your tax liabilities, including advance tax installment, and after filing return let your CA isue certificate to the buyer about the taxes paid as per the capital gains tax liability.
Thank you so much sir
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