Can NRI get 0 TDs certificate from income tax department after selling his property in India more
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When an NRI sells a property in India,the buyer shall deduct 20.6% of the sale considerationas capital gains tax after getting his TAN number and deposit the sum in the IT Department. Depending on the date of deposit of the TDS, the form 16A will be generated at the end of the quarter,which is handed over to the NRI seller before registration.The NRI can claim the excess capital gains tax in his/her IT Return after indexation.The onus of TDS is given only to the buyer.This is just to avoid NRIs running away from the country after the sale without paying tax.The penalty for not deducting tax are very severe.Hence buyers should very careful while purchasing properties from NRIs. more
Oct 04
NRIS can purchase property in India. The rules for NRIs are the same as applicable to Resident Indians except that NRIs can't purchase Agricultural land. more
Sep 25
NRI/NRE can have PAN card. He might have some bank balance in Indian Bank. He may purchase fixed Assets if he wants to return back to his country how he shows his property to Government. more
Sep 25
CA Satinder ji, theoretically yes, but you have to apply and it will take its own time before you get the certificate. that means the buyer will have to wait for that long. Or you have to engage a CA who charges hefty amount to arrange this certificate in minimum of one month period. ( based on my my personal experience) more
Sep 23
If there is no capital gain (short term or long term) on sale of your immovable property in India, you can approach Income Tax Deptt for issuing certificate for no deduction of income tax at source by buyer. more
Sep 22
