Hello Property details are as following: 1. Purchase Price: 4300000 2. Year of Purchase: 2011 3. Year of Sale: In FY 2021-22 4. Sale Price: 6000000 5. Indexed Cost of Acquisition(2020): 6800000 6. Capital Loss: 800000 In the above case will the TDS be still deducted on the sale proceeds ? If yes, how can i submit and acquire a NIL TDS Certificate on the property sale ?
- In case of NRI seller, buyer is liable to deduct TDS@ 20.8% on the sale proceeds i.e. sale price. In your case buyer is liable to deduct TDS of Rs. 12,48,000. If there is a capital loss you can obtain NIL TDS certificate and provide it to the buyer. The process of obtaining NIL TDS certificate is completely online.
I can assist you in obtaining NIL certificate.
Hi
Yes, TDS provisions will be applicable.
You may apply for a Nil deduction certificate before entering into the transaction.
We may assist you with the same.
Dear Sir,
Hope you are doing well !!
Yes, TDS will be applicable on the same.
You may get the nil tds certificate through online process.
We may assist you in entire procedure.
Hi
1. Yes TDS needs to be deducted on the sale proceeds.
2. You can obtain it online
Please have a phone consultation for details discussion.
If this is an NRI and there is a loss you can take a CA certified calculation showing loss and purchaser should not deduct TDS as he needs to deduct TDS on profit only.
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Thank you.
