TDS on Purchase of Property from NRI

(FORM 13 Link) https://incometaxindia.gov.in/forms/i...

When purchasing property from a Non-Resident Indian (NRI), the buyer must deduct Tax Deducted at Source (TDS).The buyer must deduct TDS at the time of payment and deposit it with the government within the specified time frame. TDS returns are filed using Form 27Q, and a TDS certificate (Form 16A) must be issued to the NRI seller. Both parties need a Permanent Account Number (PAN), and the buyer must have a Tax Deduction and Collection Account Number (TAN). NRIs can apply for a lower TDS deduction certificate if applicable. Non-compliance with TDS provisions can result in penalties and interest, so it is crucial to follow these guidelines to ensure a smooth and compliant transaction.

Don't forget to like, comment, and subscribe for more informative videos on tax-related topics and guides from Reorient.

#IncomeTaxReturn #ITRFiling #TaxSeason #TaxTips #FinancialPlanning #Reorient #IncomeTax #TaxDeductions #PersonalFinance #TaxFilingMadeEasy #reorient #casumnpoddar #incometaxreturnfiling #incometaxdepartment
#incometaxindia #GSTReturnFiling #gstreturnfiling
#investingstrategy #accountingtips #investingforbeginners
#personalfinancetips #msmeindia #reorient #viralvideo #viralcontents #gstreturnfiling #trading #incometax #tds #nri #form13 #propertypurchase#purchaseofpropertyfrom nri#nriproperty#propertypurchase