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 ...

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 ...

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 ...

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 ...

MUMBAI: India's real estate market just got a bit more transparent for tax authorities, but this increased scrutiny can change the dynamics of property transactions. A new tax rule, effective from ...

The ITAT Chandigarh ruled that a co-purchaser of property is not liable to deduct TDS under Section 194-IA if their individual share is below ₹50 lakh, even if total consideration exceeds the limit.

The ruling found no liability to deduct TDS because individual payments to transferors were below the statutory threshold. Consequently, the fee and interest imposed under Section 234E were set ...

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 ...