TDS on buying property from NRI

[Card]

Hi, Has anyone bought a property from an NRI recently? If so, how did you deal with the TDS which is approx 22.8%? Did you apply for TAN to deduct the TDS?


Any information on this subject will be very helpful.

 

[percolate]

Why do you need a TAN?
You can pay the TDS without it, right?

 

[Card]

Why do you need a TAN?
You can pay the TDS without it, right?

That's what I want to understand. Will PAN suffice?

 

[percolate]

That's what I want to understand. Will PAN suffice?

yeah PAN is sufficient

 

[Card]

yeah PAN is sufficient

I see this everywhere when it comes to buying property from NRI - Buyer should acquire a TAN under section 203A of the Income Tax Act before deducting TDS.

Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

 

[daen.kith]

I am non resident and i sold an apartment, pan card should be sufficient to deduct tds. If you need any help feel free to dm me, it is not a complicated procedure.

 

[n69b]

I am non resident and i sold an apartment, pan card should be sufficient to deduct tds. If you need any help feel free to dm me, it is not a complicated procedure.

TAN is needed. You did not follow the correct path then.

 

[fit_future]

You must deduct TDS from NRI property purchases under Section 195 of the Income Tax Act. There is a difference between the TDS rate for short-term and long-term gains. Additionally, the buyer must have a TAN. Penalties can be imposed if TDS is not deducted.

 

[KGSIPO]

Hi, Has anyone bought a property from an NRI recently? If so, how did you deal with the TDS which is approx 22.8%? Did you apply for TAN to deduct the TDS?


Any information on this subject will be very helpful.

TAN is mandatory for NRI case and buying a property from NRI is complicated. If you decide to buy from NRI, consult with CA . You can also negotiate for lesser price if you are buying from NRI

 

[creditcarduser]

TAN is mandatory for paying NRI TDS, which is currently 14.95 including cess and sur charge, can help, please dm for details.