The property that an NRI holds is categorised as a capital asset, which can be a long-term capital asset or a short-term capital asset. If you purchase a piece of property from a Non-Resident Indian ...

New Delhi: As per Section 195 of the Income Tax Act, when a non-resident Indian (NRI) sells a property, TDS is required to be deducted at 20 per cent plus surcharge and cess by the buyer from the sale ...

In Budget 2022, the finance minister proposed that at the time of buying a property, one per cent TDS (Tax Deduction at Source) will apply on a non-agriculture immovable property of over ₹50 lakh on ...

Buying property from Non-Resident Indians creates tax hurdles for buyers. Current rules demand extra registrations and ...

In Budget 2022, finance minister Nirmala Sitharaman proposed that the 1% TDS (Tax Deduction at Source) on non-agriculture immovable property of Rs 50 lakh or more will be calculated based on the sale ...

Purchasing a house can be a cumbersome task. You have to decide on a budget, arrange for the down payment and loan, select the property, negotiate with the seller, and also perform other statutory ...

Prices of the immovable properties are always soaring in India which makes it an investment. Accordingly, selling it generates profit which is taxed. In India, the onus to pay such a tax lies on the ...

Representative Image NEW DELHI: TDS of one per cent will apply on sale of an immovable property valued at Rs 50 lakh and more, even if there are multiple buyers and sellers involved in the transaction ...

For property purchases, TDS should be levied at a rate of 1 percent of the property value if it exceeds Rs 50 lakh. In the absence of a PAN or if the PAN is inoperative, the TDS rate increases to 20 ...