TDS on NRI SELLING PROPERTY IN INDIA

SUKHVIR HOUSING AGENCY (Querist) 31 January 2011 This query is : Resolved
Hi Tax Experts,
My NRI client purchased flat in 1991

1) If he need to Sell the flat will there be any Tax on the Capital Gains. If yes then how much %.

2) Can he avoid the Capital Gains by purchasing another flat?

3) Is is it required that the new flat be purchased after the selling of the previous property to avoid Tax?

4) What documents required to avoid TDS on selling property.

5) Is is mandatory for Buyer to deduct TDS from Consideration Value

Tax Experts your advice is higly solicited.

Thanks in Advance

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soumitra basu (Expert) 15 April 2011
Ansers :
1. 20% on capital gain.
2. yes.
3. the new flat has to be purchased before one year or after two years from the date of transfer.
4. There is no TDS on selling property.
5. No. There is no scope of TDS

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