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HOW TO APPLY FOR LOWER TDS CERTIFICATE

PART 1:- INTRODUCTION

Hello Friends,

Today I am going to discuss some important issues regarding the purchase of property from non-resident Indians or sale of property by non-resident Indian. Such kinds of people are supposed to have many legal and tax-related compliances while purchasing or selling the same. I have been dealing with such kind of cases where NRI intend to sell a property or any Indian resident is supposed to Purchase property from NRI.

According to my presumption, NRIs are interested in taking advantage of the strong economy of India in the current scenario by disposing of their property in India at lucrative rates which are justified too. That is the reason why so many NRIs are interested in selling a property. However, this is not an easy process at all. This whole process can be simplified by understanding the various phases of selling which will be technically and legally justified.

HOW TO APPLY FOR LOWER TDS CERTIFICATE

Those NRIs who are interested in selling their property or those residents who are interested in purchasing a property from NRI are most likely to face tax related compliances. The tax-related provision regarding the sale and purchase of property from or to NRIs is entirely different. I will prefer not discussing the theoretical implications of sections rather I will be discussing the practical implications of such transactions. I will let you know in detail, that what are the basic precautions, an NRI is supposed to take in consideration while selling their property in India.

I will also let you know, the same with reference to buyer i.e. people who are interested in purchasing a property from an NRI. If you are expecting that one fine day you will travel across India, sell your property here and will go back then I am sorry friends this will not be the case here. It is very much required to follow certain provisions for selling such kind of property. It is advisable for you to prepare well in advance for such kind of transactions. I will discuss both aspects of the transaction with reference to the buyer and seller of such property for your detailed clarification.

   

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