Its a brilliant well presented step by step guide for NRIs contemplating to sell their property in India. I have two queries,which remain after watching this video again and again,which I am sure your team can answer: 1-Before the Agreement to sale(ATS)/First agreement to sale ,is registered,the buyer pays a contribution payment,say for example 20 or 30% of total sale value.Is the Lower TDS(LTDS) deductible on this amount or not? If not,Is it therefore avisable to take this payment once LTDS certificate is received.2-As part of whole package,would your team be able to provide a language template for initial MOU, ATS and final sale deed. Many thanks
I would have loved it even more if the cost of CA services was also discussed in this video. Otherwise, great video and simple explanations of all the steps.
It was told at beginning of video you will be explaining about how to apply for low tds but there was nothing regrading it how to apply on whole video. Its nit correct. Otherwise whole video was knowledgeable and good. Thank you.
You have explained the procedure very well. Thanks. I will be writing to you shortly. I'm an NRI living in Australia with an inherited property in India that I want to sell.
Very well explained. Thanks. I understand from your video that an NRI’s CA can apply for actual applicable TDS (applicable on Long Term Capital Gain) before a buyer offer. Please confirm that my understating is correct.
For the portion of the TDS amount, which is refunded after 18 months or so, does the IT Dept give interest for that duration? If so then how is the int rate calculated by IT Dept?
My question is if Capital Gain and TDS are different or same thing. For example if there is NRI , who plan to sell inherited ( in 2008) rural agriculture land ( 20 km outside muncipality limt worth 1 crore rupee which has no Capital gain and NRI has no income in India. If TDS will be deducted on this sale, if yes if he can get nill tds cerificate from income tax thro your service and then buyer don't deduct tds.
Both things are different, If you are selling any property in India you have to deposit TDS (Maximum 23.92%) without applying LTDS. Then, if no capital gain arises, you can claim a refund while filing an ITR. For more information feel free to free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
If a property is owned jointly by an NRI and an Indian citizen, the NRI pays 20% TDS on the sale value, while the resident pays 1%. For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Nice info and thanks. I have 2 queries. 1. is there any timeline period to re-invest after selling the property by NRI in India. 2. can we invest back again on land? if yes, then is construction mandatory on that land?
1. Yes, there's a timeline for reinvestment. NRIs typically have 2 years to reinvest capital gains from property sales to claim tax exemption under Section 54 of the Income Tax Act. 2. Yes, reinvestment in land is possible, but for tax exemption, construction on the land might be mandatory. For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Up to Rs. 50 Lakh Nil Above Rs. 50 Lakh and up to Rs. 1 Crore 10% Above Rs. 1 Crore and up to Rs. 2 Crore 15% For more clarification Please contact our NRI Desk at cs@aktassociates.com or 8080088288
I'm planning to purchase a property in India from two NRI sellers, with a total sale value of ₹52 lakh. Since each seller will receive less than ₹50 lakh, do I still need to consider the surcharge along with Cess while calculating TDS.
Yes, you will still need to consider both the surcharge and cess when calculating TDS on the property purchase, as these apply regardless of the sale value to each seller. TDS on property purchased from NRIs is 20%, plus applicable surcharge and 4% health and education cess. For more detail Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Please if NRI want to sell property and if let’s example sale value 1 cr and lower TDS amount is 7 lakh rupees, but now NRI want to reinvest 1 cr again, so my question is this is it need to pay that 7 lakh or not because 7 lakh my buyer have to cut and submit TDS but if I want to reinvest then how much my buyer pay TDS.
You have to reinvest whatever capital gain you received into Govt bonds or residential property For more info contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Sir, my query is this: I am going to purchase a residential apartment from an NRI. She acquired this apartment as her share free of cost, from the builder with whom she entered into Development Agreement Cum GPA. How can I deduct TDS from the sale proceed and at what rate please? Thank you.
You should deduct 1% TDS, which the buyer must deposit in the name of the seller. For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Hi Sir Property agreement or rental deed is required for lower tds certificate for tds on Rental income of NRI?? Also let me know if you have made an video for ldc for rental income.
Considering sale valur as 1.5CR and NRI seller does not get a lower tds, buyer has to deduct around 23% tax, now buyer has to pay 20% down payment (80%is loan) , how shall we proceed, does bank transfer 3% excell to buyer and rest 77% goes to seller
One thing looks little conflicting, in india all payments are made or handed over as a draft while buyer and seller reaches registrar office and that exchange is done while signing the papers, am i right or missing something
How long is this lower TDS certificate good for ? I may have prospective buyer for now but what happens if he backs out and I can’t find buyer for another 6 months ?
The lower TDS certificate is valid for the financial year it's issued in. for more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
You cannot claim tax exemptions if you reinvest in the USA, you must reinvest in India to receive benefits. For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
No tax on NRI property sale if proceeds are fully reinvested in Indian property Contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com to know more
Watch our latest video on this year's budget and its implications for NRI taxes. CA Arun Tiwari Discussed about the removal indexation, it will clear all your doubts. ruclips.net/video/ONTSUxrJgrk/видео.html
how can NRIs take out more than the limit of 1 million dollars in a financial year on sale of property . If they sold the property for about 10 million dollars as an example, do they have to wait for 10 years to withdraw 1 million dollar in each year or can they withdraw the entire amount in a single financial year
What NRIs can do is seek approval from the RBI to repatriate the entire amount in one financial year. For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
It might not count as capital gain, but it depends on the source, amount, and local laws. For more details contact our NRI desk @ 8080088288 or email us at cs@aktassociates.com
You can easily find out on the Internet. If you have any questions feel free to free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Sir, if seller is not disclosing that he is NRI, and buyer is not aware about the seller residency Status, how buyer can be safe with tax recovery from him or any penalty in future if arises, can we take any documents from the seller for the safety point of view
Not quite, NRIs may have tax on capital gains, but account type won't affect it Contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com to know more
The sale proceeds after TDS will have to be credited to NRO account. No question about NRE tax exemption here. Person has to file IT return showing Capital gains and claim refund.
The procedure is going to be the same. As per the new tax rules LTCG is taxed at 12.5%, and STCG at 20%. The indexation benefit is removed by govt. For more information, you can contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Our office is located in Navi Mumbai, but we provide services all over India. To get to know our charges feel free to contact our NRI desk at 8080088288 or email us at cs@aktassociates.com
@AKTAssociatesOfficial thanks, will be in touch. My questions, is there any form submission from CA for NRI property sale. TDS reduced to 3% ? We can claim next year ?
Very well explained step by step from beginning to conclusion of the whole sal procedure
@sharadjain588 I'm glad you liked the video
Its a brilliant well presented step by step guide for NRIs contemplating to sell their property in India. I have two queries,which remain after watching this video again and again,which I am sure your team can answer: 1-Before the Agreement to sale(ATS)/First agreement to sale ,is registered,the buyer pays a contribution payment,say for example 20 or 30% of total sale value.Is the Lower TDS(LTDS) deductible on this amount or not? If not,Is it therefore avisable to take this payment once LTDS certificate is received.2-As part of whole package,would your team be able to provide a language template for initial MOU, ATS and final sale deed. Many thanks
Thank you, explained the procedures very well.
@jeyram1872 Glad you liked it
I would have loved it even more if the cost of CA services was also discussed in this video. Otherwise, great video and simple explanations of all the steps.
It was told at beginning of video you will be explaining about how to apply for low tds but there was nothing regrading it how to apply on whole video. Its nit correct.
Otherwise whole video was knowledgeable and good. Thank you.
If a NRI buying a NRI property then what should be TDS amount?
You have explained the procedure very well. Thanks. I will be writing to you shortly. I'm an NRI living in Australia with an inherited property in India that I want to sell.
We're glad that you found this video helpful.
You can reach out to us by contacting our NRI Desk at 8080088288 or email us at cs@aktassociates.com.
My CA says that you cannot file for lower tax before you find a buyer because you need TAN number of Buyer
He is right, Buyer need to take a TAN Number
Procedure to sell explained properly - can you advise if advertising for no objection in the newspaper is necessary for sale of agricultural land
Not It's not mandatory for seller,
Very well explained. Thanks.
I understand from your video that an NRI’s CA can apply for actual applicable TDS (applicable on Long Term Capital Gain) before a buyer offer. Please confirm that my understating is correct.
You need to have a buyer first because the buyer's TAN number and sale agreement should be ready before applying for a lower TDS certificate.
Good video... Thank you
@ashwinshetty1501 Glad you liked it
Please video explain what need to be done when NRI buying ancestral property from resident brother sister.
Contact our NRI Desk they will help you out, Call 8080088288 or email us at cs@aktassociates.com.
For the portion of the TDS amount, which is refunded after 18 months or so, does the IT Dept give interest for that duration? If so then how is the int rate calculated by IT Dept?
Yes IT Dept. is give interest.
For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Hi please make videos on how to retire US citizens in india. How to get Social security deposit in Indian banks. Pros and cons.
Noted! Stay tuned
My question is if Capital Gain and TDS are different or same thing. For example if there is NRI , who plan to sell inherited ( in 2008) rural agriculture land ( 20 km outside muncipality limt worth 1 crore rupee which has no Capital gain and NRI has no income in India. If TDS will be deducted on this sale, if yes if he can get nill tds cerificate from income tax thro your service and then buyer don't deduct tds.
Both things are different, If you are selling any property in India you have to deposit TDS (Maximum 23.92%) without applying LTDS.
Then, if no capital gain arises, you can claim a refund while filing an ITR.
For more information feel free to free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Please explain the position if the property is owned jointly by NRI & Indian citizen
If a property is owned jointly by an NRI and an Indian citizen, the NRI pays 20% TDS on the sale value, while the resident pays 1%.
For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Question: what is the validity of 'Lower TDS certificate' which we receive from Tax department
Validity of Lower TDS Certificate is 31 March. (FY)
Nice info and thanks. I have 2 queries. 1. is there any timeline period to re-invest after selling the property by NRI in India. 2. can we invest back again on land? if yes, then is construction mandatory on that land?
1. Yes, there's a timeline for reinvestment. NRIs typically have 2 years to reinvest capital gains from property sales to claim tax exemption under Section 54 of the Income Tax Act.
2. Yes, reinvestment in land is possible, but for tax exemption, construction on the land might be mandatory.
For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
What will be the surcharge on the TdS? Is that 25% - can you share the tax surcharge slabs? Is that based on transaction value?
Up to Rs. 50 Lakh Nil
Above Rs. 50 Lakh and up to Rs. 1 Crore 10%
Above Rs. 1 Crore and up to Rs. 2 Crore 15%
For more clarification Please contact our NRI Desk at cs@aktassociates.com or 8080088288
I'm planning to purchase a property in India from two NRI sellers, with a total sale value of ₹52 lakh. Since each seller will receive less than ₹50 lakh, do I still need to consider the surcharge along with Cess while calculating TDS.
Yes, you will still need to consider both the surcharge and cess when calculating TDS on the property purchase, as these apply regardless of the sale value to each seller. TDS on property purchased from NRIs is 20%, plus applicable surcharge and 4% health and education cess.
For more detail Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Please if NRI want to sell property and if let’s example sale value 1 cr and lower TDS amount is 7 lakh rupees, but now NRI want to reinvest 1 cr again, so my question is this is it need to pay that 7 lakh or not because 7 lakh my buyer have to cut and submit TDS but if I want to reinvest then how much my buyer pay TDS.
You have to reinvest whatever capital gain you received into Govt bonds or residential property
For more info contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Sir, my query is this: I am going to purchase a residential apartment from an NRI. She acquired this apartment as her share free of cost, from the builder with whom she entered into Development Agreement Cum GPA. How can I deduct TDS from the sale proceed and at what rate please? Thank you.
You should deduct 1% TDS, which the buyer must deposit in the name of the seller.
For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Hi Sir
Property agreement or rental deed is required for lower tds certificate for tds on Rental income of NRI??
Also let me know if you have made an video for ldc for rental income.
We do not offer a lower TDS service for rental income.
Well explained sir
@beniwalgs3331 Thank You 😀
@@AKTAssociatesOfficial sir whats implications when NRI buys brother ancestral plot with in municipal limits. ?
We are British NRI in Hyderabad India can you recommend a chartered accountant please
Sure will share you the detail.
Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Thanks a lot sir
@prasadomprakash5077 Most Welcome
Considering sale valur as 1.5CR and NRI seller does not get a lower tds, buyer has to deduct around 23% tax, now buyer has to pay 20% down payment (80%is loan) , how shall we proceed, does bank transfer 3% excell to buyer and rest 77% goes to seller
We have to do calculation, please contact our NRI desk @ 8080088288 or email us at cs@aktassociates.com.
One thing looks little conflicting, in india all payments are made or handed over as a draft while buyer and seller reaches registrar office and that exchange is done while signing the papers, am i right or missing something
Seller buyer can decide the way payment is done there is no hard and fast Rule
How long is this lower TDS certificate good for ? I may have prospective buyer for now but what happens if he backs out and I can’t find buyer for another 6 months ?
The lower TDS certificate is valid for the financial year it's issued in.
for more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Which city are you guys having offices / located in?
If sale value is 30L and registration value is 20L. So what happens to 10L cash?
Your question is unclear. Please email your query to cs@aktassociates.com or call us at 8080088288.
Question - can the reinvestment of profits on the sale of the property be outside India? (USA)?
You cannot claim tax exemptions if you reinvest in the USA, you must reinvest in India to receive benefits.
For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Nri selling property and buying another property in india with the enitre amount of sell proceeds is tax payable on the first sell of property ?
No tax on NRI property sale if proceeds are fully reinvested in Indian property
Contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com to know more
Please make updated video since indexing is removed now.
We are going to create a video on this year's budget and its implications for NRI taxes.
Stay tuned!
Watch our latest video on this year's budget and its implications for NRI taxes. CA Arun Tiwari Discussed about the removal indexation, it will clear all your doubts.
ruclips.net/video/ONTSUxrJgrk/видео.html
how can NRIs take out more than the limit of 1 million dollars in a financial year on sale of property . If they sold the property for about 10 million dollars as an example, do they have to wait for 10 years to withdraw 1 million dollar in each year or can they withdraw the entire amount in a single financial year
What NRIs can do is seek approval from the RBI to repatriate the entire amount in one financial year.
For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
If you have a Tax FREE INVESTMENT LIKE mAX lIFE iNSURANCE, IN iNDIA WOULD YHAY BE CONSIDERED AS CAPITAL GAIN if you want to transfer the funds abroad?
It might not count as capital gain, but it depends on the source, amount, and local laws.
For more details contact our NRI desk @ 8080088288 or email us at cs@aktassociates.com
Sir, is there any model MOU ,if it's such pl put up.
You can easily find out on the Internet.
If you have any questions feel free to free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Sir, if seller is not disclosing that he is NRI, and buyer is not aware about the seller residency Status, how buyer can be safe with tax recovery from him or any penalty in future if arises, can we take any documents from the seller for the safety point of view
Contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
@@AKTAssociatesOfficial It was really helpful interaction and all queries were attended by you. Thank you so much sir 🙏
So now TDS will be 12.5% after new budget?
Yes, Now it's 12.5%
NRI stop showing interest to buy lad or commercial or any other property because of no strict law . It is hard earned money
How much time does it take to transfer pan pf nri from resident to nri
It typically takes 15-20 days
I heard NRI selling the property it’s tax free in NRE account.
Not quite, NRIs may have tax on capital gains, but account type won't affect it
Contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com to know more
Interest earned in NRE account is tax free.
If i sell a property within a year, can I apply for Lower tax deduction?
@@Gandhikrishna79 No It is for Long term Capital gain
The sale proceeds after TDS will have to be credited to NRO account. No question about NRE tax exemption here. Person has to file IT return showing Capital gains and claim refund.
What is the procedure after 23rd July 24
The procedure is going to be the same. As per the new tax rules LTCG is taxed at 12.5%, and STCG at 20%. The indexation benefit is removed by govt.
For more information, you can contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
😊
How long will it take to get tds certificate
It may take 30 - 45 days to get a Lower TDS Certificate.
For more details Contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Audio quality is not good
Appreciate your feed back We working on it.
where are you located and how much you charge me as a seller?
Our office is located in Navi Mumbai, but we provide services all over India.
To get to know our charges feel free to contact our NRI desk at 8080088288 or email us at cs@aktassociates.com
@@AKTAssociatesOfficial
"promo sm"
Thanks for well informed video. your contact please
Feel free to contact our NRI Desk at cs@aktassociates.com or call us at +91 8080088288.
@AKTAssociatesOfficial thanks, will be in touch. My questions, is there any form submission from CA for NRI property sale. TDS reduced to 3% ? We can claim next year ?
You need to file a lower TDS application. We offer this service-feel free to contact us at +91 8080088288.