Section 195 - TDS on income of non-resident or a foreign company - Sale of Property by NRI

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... from the payment made to the seller and then depositing the deducted amount with the Income Tax Department. TDS deduction under section 195 Notwithstanding anything contained in section 195(1) and (2), the Board may, by notification in the Official Gazette, specify a class of persons or cases, where the person responsible for paying to a non-resident, not being a company, or to a foreign compa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt (not being a company) or a foreign company, - * (i) the amount of income-tax payable on the total income as reduced by the amount of such long-term capital gains, had the total income as so reduced been its total income; and * (ii) the amount of income-tax calculated on long-term capital gains * (A) at the rate of 20% for any transfer which takes place before the 23rd day of July, 2024; ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....required to be submitted within 31 days from the end of the quarter in which TDS is deducted using TDS Form 27Q. * TDS certificate(i.e. Form 16A) is required to be generated after filing TDS return within 15 days from the due date of submission of TDS return. Important Point must be remembered by the NRI seller * Attempt to obtain the certificate from the income tax department to calculate t....