Transfer of Property

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....ransfer of Property<br> Query (Issue) Started By: - KUMAR Narasimhan Dated:- 15-4-2022 Last Reply Date:- 7-4-2023 Income Tax<br>Got 1 Reply<br>Income Tax<br>Dear Sir / Mam, An NRI transfer his funds ....

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....&#8377; 2 crore to NRO account and participated in Auction to buy a property, and transferred the amount to bank. Now the original owner of that property is requesting NRI to give back the property to....

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.... him and he is ready to pay NRI &#8377; 25 Lakhs for this. Now bank will refund the 2 Crore to NRI to his saving account. In this process NRI received as Income &#8377; 25 Lakhs without doing the pro....

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....perty registration. How to treat these transaction in Income tax Withrespect to NRI and Actual Owner of the property? Should Actual owner to deduct TDS @ 20.88% for the NRI transaction? Reply By Pa....

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....dmanathan Kollengode: The Reply: In my humble opinion, the income will be taxable as &quot;income from other source&quot; in the hands of the NRI. The Actual Owner has to deduct TDS @ 20.8% on 25 lak....

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....hs u/s 195.<br> Discussion Forum - Knowledge Sharing ....