TDS on Property /Obtaining Lower Tax Certificate on Sale of Properties by NRI

As per Section 195 of the Income Tax Act, payment to a Non-Resident, whether towards sale consideration of property, rent, interest, professional fees, commission, royalty, etc., is subject to Tax Deduction at Source (TDS).

Suppose, an NRI sells a flat (Long Term) in Mumbai for Rs.90 lakhs, the buyer of the property has to deduct TDS at 22.88% (FY 2022-23).

In order to reduce the TDS burden, the seller of the property can apply to the department to issue a certificate for deduction of lower rates. Further, we also assist in filing of TDS returns to the Government..

We at S.V.Bhat & Co. have gained good exposure in dealing with NRI taxation, TDS and Lower tax certificate services. For more information or services may kindly write to [email protected].