An NRI is allowed to claim standard deduction of 30%, deduct property taxes and take benefit of a interest deduction if there is a home loan. The NRI is also allowed deduction for principal repayment under section 80C. Stamp duty and registration charges paid on purchase of a property can ...
Furthermore, TDS or deduction of tax at source is applicable to certain payments. It includes brokerage, salary, interest, professional fees, contract payments, royalty, and more. Also, TDS is applicable despite the payment mode such as credit, cash, or cheque. Update on the Budget for 2021:...
194Q Payments made for the purchase of goods Rs. 50,00,000 0.10% 0.10% 194S TDS on the payment of any crypto or other virtual asset NA 1% 1% 206AA TDS for non-availability of PAN NA At a rate higher of Specified rate as per the act 20% Rate in force 20% 206AB TDS on non...
including sale of property.TDS on sale of property is applicable under Section 194-IA of the income tax law. However, buyers and sellers need not worry about TDS implications at all if the property value is up to Rs 50 lakh. On property deals involving more than Rs 50 lakh, TDS on pro...
Inderjeet Sunda (Tax Consultant) 21 February 2019 If Seller is NRI and You want to get TDS Certificate than You should have to file TDS Return ( FORM 27Q). Leave a reply Your are not logged in . Please login to post replies Click here to Login / Register ...