Thanks for the detailed video, You mentioned that 20% TDS is applicable even the property value is less than 50 Lakhs when the seller is NRI. Is my understanding is correct?
Dear sir. Your provide very good information for NRI. I have a question regarding oci holder selling his property. In case the oci holder return back to India permanently and gain the resident status for tax purposes and convert all the back accounts to resident accounts. Will he still pay 20% TDS on sale of property? I shall be very thankful to you for this information.
we are 5 brothers ( 3 resident and 2 NRI ) and selling residential property to resident buyer. how TDS would be calculated ? What forms would be filed by the buyer towards TDS ?
Sir, If 2 buyers jointly purchase a property from a NRI seller and property sales value is 1.2 Cr then what will be the applicable surcharge while deducting tds ? The confusion is because the individual buyers contribution is 60lakhs but total sales transaction is more than 1 cr so individuals should add a 10% surcharge or 15% surcharge ?
In case of 2 buyer (husband & wife) x 1 Seller hai.. but only 1 buyer (husband) pay whole TDS amount.. in that case how many 26QB form need to be filled?
Thanks a lot for this useful information. For joint buyers from an NRI seller, do we need to include the PAN/TAN details of both individuals while applying for the lower TDS certificate?
If the property is sold for less than 50 lakhs by a resident Indian then no TDS is payable. But is the 1% tax still due to the government or no tax is to be paid for such properties sold below 50 lakhs
Dear Sir , Recently My spouse and me bought an apart in hyderabad and the registration is completed on 11th may 2023, during this process we are not aware about TDS . While we are collecting the documents from the registration office , we have been informed about TDS. We have paid about 45L through NEFT and rest 90L through bank loan. Now the Seller is not agreeing on TDS , he is asking us to pay TDS even after paying the full amount as per SALE agreement. Unfortunately the Seller is an NRI , so the TDS is about 20% which is asking to pay us to Government INDIA. What are the option we have here ? do we need to make excess payment to the seller in this case ?
Sir i sold my property for 80 lakhs. The buyer deducted tds amount from sale value.. here my doubt... he paid tds not my pan number... Then how can i claim it.. he used his pan number for tds
What if current guidence value is 54lakhs and sale deed we mention for sale at 49lakhs .. should i still pay TDS ? Note: stamp duty will be paid considering guidence value i.e.., @54lakhs only
For selling amount, if we are going to buy property any equal value to that amount means, for avoiding tax, so in that case, is their is any need to pay tds.
About NRI pl clarify if it is as per FEMA or Income Tax definition. Many times the sale of property takes place during a period when the assessee would be considered NRI due to stay in a foreign country.
I am purchasing a under construction flat for which the price I pay to seller is 48 lakh(net amount) + 5 lakh(Gst )= 53 lakh(Gross amount) . Do i come under 50 lakh bracket since my net amount is 48 lakh excluding gst. So is TDS applicable for me? Note i am indian citizen)
I hv bought a house property on July '23 with 1.06 Cr. I will sell my old house property on Oct '23 at 59 lakhs. I had bought my old house property with 43 lakhs. As far as I know, I wont hv to pay capital gain tax since I am selling my old house property within the span of one year after buying new property. However, while selling my old house property, buyer will have to pay 1% TDS on my behalf i.e. Rs. 59000. Can I get full return of Rs 59000 when I file ITR return in 2024?
Sir I have a doubt suppose if buy a property of 60 lakh do ఈ have to pay owner 60 lakh and tds 60k or i have to pay owner 59 lakh 40k and tds 60k, what do I have to do?
Dear sir, Last year on sale of property the tds amount has been deducted and now we also currently filed itr What is the next process to claim tds refund amount already 1 week gone I hope you can take this query and solutions kindly reply sir
I have purchased a new flat before selling my existing flat, due to the new flat possession will be after six months only, I will be selling the flat only when I get the possession of the new flat, in this case what will be my tax liability.
According to the sale deed if buyers are 2, but payment of the transaction consideration amount is deducted from only one of the buyer account , then what's tds procedure ?
Respected sir, I have purchased underconstruction property in mumbai in 2019. I registered sale agreement with developer on march 2020 & agreement value is 44 lakhs. Besides that i have pay 6% stamp duty i.e 2,64,000 & GST 5% 2,20,000 which paid as per construcion progress with emi. My developers PLC charges are 2,35,000 which will i have to pay while posession in 2024. Should I have to pay TDS of 1% or not. Developer continiously asking me to pay tds. But my property agreement value does not exceeds 50 lakhs. Please clarify.
Maine jointly with spouse flat liya 60L ka which is under construction installments pay kar raha hu to builder do i have to pay tds now or at the time of registration
I bought home for 60lakhs.bank loan is around 50lakh. Bank has given 60000 tds cheque and around 50 lakh cheque....do I have to pay tds in online? So my loan amount is coming by deducting from total loan amt? My registration is completed.
Sir , I have purchased property from HUDA (I.e. it's a conveyance deed from Haryana urban development authority ) and payed whole amount , 1 percent TDS not submitted separately by me in Dec 21 . Please suggest solution for me . Regards
Hi sir , I have purchased a home at Mumbai having an aggrement value 76L, and I have paid all TDS to the government in one installment I.e.76K, Now can I refund back my tds in ITR , Pl tell me the procedure...
Sir, Thanks for informative and useful video . sir if Husband and wife purchased a residential builder flat in joint name and the entire amount Rs. 70 lacs was paid by wife from her account. kindly guide us who will deposit TDS of Rs. 70000 whether wife or should be deposited partly by wife Rs. 35000 and partly by husband Rs 35000. or 95% by wife and 5% by husband.will be gateful for your valuable & expert advise.
NRI says you are excellent.....clear...precise....very informative.....
Please make with illustration how to pay TDS by 2 buyers and joint sellers
Finally found a video in english
Thanks for the detailed video, You mentioned that 20% TDS is applicable even the property value is less than 50 Lakhs when the seller is NRI. Is my understanding is correct?
Yes
Dear sir. Your provide very good information for NRI. I have a question regarding oci holder selling his property. In case the oci holder return back to India permanently and gain the resident status for tax purposes and convert all the back accounts to resident accounts. Will he still pay 20% TDS on sale of property? I shall be very thankful to you for this information.
No need .. residential status will apply and 1 percent tds
we are 5 brothers ( 3 resident and 2 NRI ) and selling residential property to resident buyer. how TDS would be calculated ? What forms would be filed by the buyer towards TDS ?
Sir, If 2 buyers jointly purchase a property from a NRI seller and property sales value is 1.2 Cr then what will be the applicable surcharge while deducting tds ?
The confusion is because the individual buyers contribution is 60lakhs but total sales transaction is more than 1 cr so individuals should add a 10% surcharge or 15% surcharge ?
In case of 2 buyer (husband & wife) x 1 Seller hai.. but only 1 buyer (husband) pay whole TDS amount.. in that case how many 26QB form need to be filled?
Thanks a lot for this useful information. For joint buyers from an NRI seller, do we need to include the PAN/TAN details of both individuals while applying for the lower TDS certificate?
Yes
If the property is sold for less than 50 lakhs by a resident Indian then no TDS is payable. But is the 1% tax still due to the government or no tax is to be paid for such properties sold below 50 lakhs
No TDS . But capital gain needs to be calculated and if capital gain tax is payable needs to be ascertained and paid
I will now sell a Flat at Rs.40 lakhs which was purchased by me in 2010 at a cost of Rs.14 lakhs.kindly advise whether TDS is applicable or not.
Dear Sir , Recently My spouse and me bought an apart in hyderabad and the registration is completed on 11th may 2023, during this process we are not aware about TDS . While we are collecting the documents from the registration office , we have been informed about TDS.
We have paid about 45L through NEFT and rest 90L through bank loan. Now the Seller is not agreeing on TDS , he is asking us to pay TDS even after paying the full amount as per SALE agreement.
Unfortunately the Seller is an NRI , so the TDS is about 20% which is asking to pay us to Government INDIA. What are the option we have here ? do we need to make excess payment to the seller in this case ?
Sir i sold my property for 80 lakhs. The buyer deducted tds amount from sale value.. here my doubt... he paid tds not my pan number... Then how can i claim it.. he used his pan number for tds
I have purchased 2 plots together in the same society side-by-side(46 lakhs each) from the same pan account on same day. Should I pay the TDS or not?
Yes
Sir,
I also have to show in my ITR as individual, the TDS deducted on purchase of house above 50 lakhs???
Since it reflects in 26AS/TIS/AIS.
What if current guidence value is 54lakhs and sale deed we mention for sale at 49lakhs .. should i still pay TDS ?
Note: stamp duty will be paid considering guidence value i.e.., @54lakhs only
For selling amount, if we are going to buy property any equal value to that amount means, for avoiding tax,
so in that case, is their is any need to pay tds.
About NRI pl clarify if it is as per FEMA or Income Tax definition. Many times the sale of property takes place during a period when the assessee would be considered NRI due to stay in a foreign country.
Income tax
If I sell a residential house
and then I invest for a land how much time will I get not to pay TDS?
I am purchasing a under construction flat for which the price I pay to seller is 48 lakh(net amount) + 5 lakh(Gst )= 53 lakh(Gross amount) . Do i come under 50 lakh bracket since my net amount is 48 lakh excluding gst. So is TDS applicable for me? Note i am indian citizen)
Excluding GST to be considered
I hv bought a house property on July '23 with 1.06 Cr. I will sell my old house property on Oct '23 at 59 lakhs. I had bought my old house property with 43 lakhs. As far as I know, I wont hv to pay capital gain tax since I am selling my old house property within the span of one year after buying new property. However, while selling my old house property, buyer will have to pay 1% TDS on my behalf i.e. Rs. 59000. Can I get full return of Rs 59000 when I file ITR return in 2024?
Yes
Sir small doubt.. at the time of paying tds buyer using ur pan number or his pan number... Urgent
When the agricultural property was saled by the seller it will taxed for seller or not sir
No tax on rural agricultural property
Sir I have a doubt suppose if buy a property of 60 lakh do ఈ have to pay owner 60 lakh and tds 60k or i have to pay owner 59 lakh 40k and tds 60k, what do I have to do?
what in case where in case of inherited property in name of 2 joint holders and one in foreign citizen and one is indian resident
Dear sir,
Last year on sale of property the tds amount has been deducted and now we also currently filed itr
What is the next process to claim tds refund amount already 1 week gone I hope you can take this query and solutions kindly reply sir
Wait for refund
Wait for refund . ITR needs to be processed
Seller in India buying in Australia what will be the tax
I have purchased a new flat before selling my existing flat, due to the new flat possession will be after six months only, I will be selling the flat only when I get the possession of the new flat, in this case what will be my tax liability.
Depends on the capital gain calculation
According to the sale deed if buyers are 2, but payment of the transaction consideration amount is deducted from only one of the buyer account , then what's tds procedure ?
Is the registration done ?
Yes sir,
Are both TDS and Capital Gain Tax imposed on seller.
Yes
Respected sir,
I have purchased underconstruction property in mumbai in 2019. I registered sale agreement with developer on march 2020 & agreement value is 44 lakhs. Besides that i have pay 6% stamp duty i.e 2,64,000 & GST 5% 2,20,000 which paid as per construcion progress with emi. My developers PLC charges are 2,35,000 which will i have to pay while posession in 2024. Should I have to pay TDS of 1% or not. Developer continiously asking me to pay tds. But my property agreement value does not exceeds 50 lakhs. Please clarify.
Maine jointly with spouse flat liya 60L ka which is under construction installments pay kar raha hu to builder do i have to pay tds now or at the time of registration
I bought home for 60lakhs.bank loan is around 50lakh. Bank has given 60000 tds cheque and around 50 lakh cheque....do I have to pay tds in online? So my loan amount is coming by deducting from total loan amt? My registration is completed.
Not sure what bank has given
excellent video
Thank you
Sir ,
I have purchased property from HUDA (I.e. it's a conveyance deed from Haryana urban development authority ) and payed whole amount , 1 percent TDS not submitted separately by me in Dec 21 . Please suggest solution for me .
Regards
sir if i am a seller and sell a property whose value is below 50 lakhs then am i supposed to pay tds on the same
Do we need to deduct TDS if the seller is a court?
Very informative
Thank you
Hi buyer of my ( NRI) flat paid the TDS at 20.8% but there is no mention of my name or my PAN. How will i know if is paid in my name?
I have to register the sale shortly, pls advise.
Superb sir...!
Thank You for your useful information...!
Hi sir , I have purchased a home at Mumbai having an aggrement value 76L, and I have paid all TDS to the government in one installment I.e.76K, Now can I refund back my tds in ITR , Pl tell me the procedure...
The seller can get back the TDS . As you would have paid the seller your purchase value minus TDS .
Sir ji kaya seller bhi 16b nikal sakta hai yadi buyer 16 b dene se mana kar de please
Very good
Thank you
Very clear info as always.
Thank you Suma
Sir, Thanks for informative and useful video . sir if Husband and wife purchased a residential builder flat in joint name and the entire amount Rs. 70 lacs was paid by wife from her account. kindly guide us who will deposit TDS of Rs. 70000 whether wife or should be deposited partly by wife Rs. 35000 and partly by husband Rs 35000. or 95% by wife and 5% by husband.will be gateful for your valuable & expert advise.
Can one claim refund of this tds
Very informative
Thank you