Hi. I am going to buy a Flat from NRI. Actually the seller is India and deputed in Denmark
I have following queries:
a) For NRI, I need to deduct tax on the registry amount. What is the slab for tax deduction in this case along with surcharge, cess etc.
b) Should I deduct tax before registry and submit the same with IT department or after registry. What is the time frame when I need to deduct and submit the TDS.
c) What is the process for submitting the tax once same has been deducted.
d) I read, TAN is required in this case. Me and my wife will be co-owners. Do we need TAN for both of us as she is non working.
Note: Seller is having his PAN number.
Please provide the requested information.
Regards, Rajiv
I have following queries:
a) For NRI, I need to deduct tax on the registry amount. What is the slab for tax deduction in this case along with surcharge, cess etc.
b) Should I deduct tax before registry and submit the same with IT department or after registry. What is the time frame when I need to deduct and submit the TDS.
c) What is the process for submitting the tax once same has been deducted.
d) I read, TAN is required in this case. Me and my wife will be co-owners. Do we need TAN for both of us as she is non working.
Note: Seller is having his PAN number.
Please provide the requested information.
Regards, Rajiv