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Tds when buying property from nri
HiWhat is the TDS deductible when buying property from NRI? If the NRI provides capital gain tax computation should the buyer still deduct TDS (u/s 195) or the lower value as per computation?
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If you are buying property (such as site or house or flat) from a NRI, you have to do TDS (Tax Deducted at Source) @ 20.6% on the sale value of the property, as per section 195. The seller or the buyer can apply to Income Tax department for determination of the amount of tax on capital gain, by filling form 13. Based on the certificate of lower deduction issued by the Income Tax Officer, the seller can deduct lower taxes.
Thank you so much
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