Hi
As per the Income tax act, the key factor would be duration of stay in India. If non-resident, Section 194IA shall apply to your case irrespective of the amount of sales consideration.
The normal rules of NRI status determination shall apply.
Hi, We are purchasing a property from a senior level official who have been posted in Indian consulate abroad for many years. Regarding the same we want to know if “the above property owner” who is currently working in Indian Consulate abroad will be considered as “NRI” or “Indian Resident”. Also please tell us whether the rules for NRI status are different for Indian Government officials working abroad in Indian Consulate as compared to other Indians living abroad? What is the key factor for determining the NRI status? Is it their duration of stay in abroad or any other factor? Regards, XYZ
Hi
As per the Income tax act, the key factor would be duration of stay in India. If non-resident, Section 194IA shall apply to your case irrespective of the amount of sales consideration.
The normal rules of NRI status determination shall apply.