Hey,
If we talk about long-term capital gains (LTCG), a tax rate of 20 percent will be applicable on the sale. I want you to know that the NRI seller will be required to pay 21 percent tax on the sale amount and not the profit amount as LTCG. They are required to go through a lengthy process to claim a refund.
NRI selling property in India is required to apply for a lower TDS certificate from the tax department using Form 13 so that the buyer does not deduct the full TDS.
I hope this helps!
Read more:
How To Calculate Long Term Capital Gain On Property?
What is TDS For NRI Selling Property In India?
What is the TDS on Sale of Property by NRI?
Check Out NoBroker’s NRI Property Management Services
Your Feedback Matters! How was this Answer?
Thanks ,We got your reaction
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Authors Of The Question
What is the method of calculating lower tax deduction on long term capital gains for selling a industrial property that was inherited by NRI?
Parepalli Sathyanarayana F/o NRI contact no. 9246599664/
50 Views
1 Answers
2 Year
2022-02-06T04:54:51+00:00 2022-02-08T18:47:05+00:00Comment
Share