{"id":4471,"date":"2023-06-30T17:00:44","date_gmt":"2023-06-30T11:30:44","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=4471"},"modified":"2023-11-23T18:44:24","modified_gmt":"2023-11-23T13:14:24","slug":"navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/","title":{"rendered":"Navigating TDS on Sale of Property by NRIs in India: Buyer&#8217;s Responsibilities Demystified"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#Applicability_of_TDS_on_Sale_of_Property_by_NRI_in_India_Things_to_be_Taken_Care_of_by_the_Buyer\" title=\"Applicability of TDS on Sale of Property by NRI in India: Things to be Taken Care of by the Buyer\">Applicability of TDS on Sale of Property by NRI in India: Things to be Taken Care of by the Buyer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#Applicability_of_TDS_on_Sale_of_Property_by_NRI\" title=\"Applicability of TDS on Sale of Property by NRI\">Applicability of TDS on Sale of Property by NRI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#Buyers_Checklist\" title=\"Buyer&#8217;s Checklist\">Buyer&#8217;s Checklist<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#1_Verify_the_NRI_status_of_the_seller\" title=\"1. Verify the NRI status of the seller:\">1. Verify the NRI status of the seller:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#2_Calculate_the_TDS_amount_correctly\" title=\"2. Calculate the TDS amount correctly:\">2. Calculate the TDS amount correctly:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#3_Obtain_the_TAN_Tax_Deduction_and_Collection_Account_Number\" title=\"3. Obtain the TAN (Tax Deduction and Collection Account Number):\">3. Obtain the TAN (Tax Deduction and Collection Account Number):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#4_Deposit_the_TDS_amount_on_time\" title=\"4. Deposit the TDS amount on time:\">4. Deposit the TDS amount on time:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#5_Issue_Form_16B_to_the_NRI_seller\" title=\"5. Issue Form 16B to the NRI seller:\">5. Issue Form 16B to the NRI seller:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#6_File_TDS_returns\" title=\"6. File TDS returns: \">6. File TDS returns: <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Applicability_of_TDS_on_Sale_of_Property_by_NRI_in_India_Things_to_be_Taken_Care_of_by_the_Buyer\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-3989 \" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Sell-Property-img-e1681219019224-300x261.png\" alt=\"TDS on Sale of Property by NRIs\" width=\"253\" height=\"220\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Sell-Property-img-e1681219019224-300x261.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Sell-Property-img-e1681219019224.png 345w\" sizes=\"(max-width: 253px) 100vw, 253px\" \/><strong>Applicability of TDS on Sale of Property by NRI in India: Things to be Taken Care of by the Buyer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The real estate market in India has been a popular investment choice for Non-Resident Indians (NRIs) looking to invest in their home country. However, selling a property in India as an NRI involves certain tax implications, particularly with respect to Tax Deducted at Source (TDS). In this article, we will discuss the applicability of TDS on the sale of property by an NRI in India and the things that a buyer needs to take care of to comply with the tax laws.<\/p>\n<p><a href=\"https:\/\/aktassociates.com\/blog\/nri-selling-property-in-india-5-hassle-free-checklist-for-a-smooth-transaction\/#more-4111\"><strong>Connect the dots: Explore the interconnected content!<\/strong><\/a><\/p>\n<p><em><strong>Hate reading, Watch the video<\/strong><\/em><\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/A3s1_vxSUuU\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Applicability_of_TDS_on_Sale_of_Property_by_NRI\"><\/span><strong>Applicability of TDS on Sale of Property by NRI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-4484 size-medium\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/happy-couple-buying-their-new-home-receiving-keys-from-real-estate-agent-300x200.jpg\" alt=\"TDS on Sale of Property by NRIs\" width=\"300\" height=\"200\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/happy-couple-buying-their-new-home-receiving-keys-from-real-estate-agent-300x200.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/happy-couple-buying-their-new-home-receiving-keys-from-real-estate-agent-1024x682.jpg 1024w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/happy-couple-buying-their-new-home-receiving-keys-from-real-estate-agent-768x512.jpg 768w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/happy-couple-buying-their-new-home-receiving-keys-from-real-estate-agent-1536x1024.jpg 1536w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/04\/happy-couple-buying-their-new-home-receiving-keys-from-real-estate-agent.jpg 2000w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>As per the provisions of the Indian Income Tax Act, 1961, when an NRI sells a property in India, the buyer is required to deduct TDS on the sale proceeds before making the payment to the NRI seller. The applicable TDS rate is 20% of the sale consideration unless the NRI seller obtains a certificate from the Indian tax authorities for a lower rate or a complete exemption from TDS.<\/p>\n<p>However, it&#8217;s important to note that the threshold for TDS on the sale of property by an NRI is different from that of a resident Indian. For NRIs, the threshold limit for TDS is INR 50 lakhs (INR 20 lakhs for transactions made before June 1, 2017), whereas, for resident Indians, the threshold limit is INR 50 lakhs for transactions made after June 1, 2016.<\/p>\n<p><strong>Consult CA Arun Tiwari for more info at \ud83d\udcde\u00a0 8080088288 or <a href=\"mailto:cs@aktassociates.com\">cs@aktassociates.com<\/a><\/strong><\/p>\n<h3><a href=\"https:\/\/pages.razorpay.com\/akt-nri-tax-consulting\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4205 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/C-7.png\" alt=\"\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/C-7.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/C-7-300x64.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Buyers_Checklist\"><\/span>Buyer&#8217;s Checklist<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If you are a buyer purchasing a property from an NRI seller in India, here are some important things you need to take care of to comply with the TDS requirements:<\/p>\n<h4><span class=\"ez-toc-section\" id=\"1_Verify_the_NRI_status_of_the_seller\"><\/span><strong>1. Verify the NRI status of the seller:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>As a buyer, it is your responsibility to verify the NRI status of the seller. You can do this by obtaining a self-declaration from the seller stating their NRI status, along with relevant supporting documents such as their passport, visa, and residency certificate.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"2_Calculate_the_TDS_amount_correctly\"><\/span><strong>2. Calculate the TDS amount correctly:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The buyer must deduct TDS (Tax Deducted at Source) amount at a rate of 20% of the sale consideration unless the NRI seller has obtained a certificate for a lower rate or a complete exemption from TDS. Make sure to calculate the TDS amount correctly and deduct the same from the sale consideration before making the payment to the NRI seller.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"3_Obtain_the_TAN_Tax_Deduction_and_Collection_Account_Number\"><\/span><strong>3. Obtain the TAN (Tax Deduction and Collection Account Number):<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>As a buyer, you must obtain a TAN (Tax Deduction and Collection Account Number) from the Indian tax authorities before deducting TDS on the sale of property by an NRI. You will need to quote this TAN in all the TDS returns and challans filed with the tax authorities.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"4_Deposit_the_TDS_amount_on_time\"><\/span><strong>4. Deposit the TDS amount on time:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>After deducting the TDS (Tax Deducted at Source), you must deposit the same with the Indian tax authorities within the prescribed timelines. Taxpayers must deposit the TDS amount using the correct challan and quoting the TAN and other relevant details.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"5_Issue_Form_16B_to_the_NRI_seller\"><\/span><strong>5. Issue Form 16B to the NRI seller:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>After depositing the TDS (Tax Deducted at Source) amount, you must issue Form 16B to the NRI seller within 15 days from the due date of filing the TDS return. Form 16B is a certificate of TDS, which the NRI seller can use to claim credit for the TDS amount while filing their income tax return in India.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"6_File_TDS_returns\"><\/span><strong>6. File TDS returns: <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>As a buyer, you must file quarterly TDS (Tax Deducted at Source) returns with the Indian tax authorities. Taxpayers must file the TDS (Tax Deducted at Source) returns within the due dates specified by the tax authorities<\/p>\n<h4><a href=\"https:\/\/aktassociates.com\/nri-lower-tds\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4133 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Are-you-planning-to-sell-property-in-India-3.png\" alt=\"TDS on Sale of Property by NRIs\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Are-you-planning-to-sell-property-in-India-3.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Are-you-planning-to-sell-property-in-India-3-300x64.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h4>\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">the sale of property by an NRI in India attracts the requirement of Tax Deducted at Source (TDS) by the buyer. The applicable TDS rate is 20% of the sale consideration unless the NRI seller obtains a certificate for a lower rate or exemption from TDS. As a buyer, it is crucial to verify the NRI status of the seller, calculate and deduct the correct TDS amount, obtain a TAN, deposit the TDS amount on time, issue Form 16B to the NRI seller, and file TDS returns in compliance with the Indian tax laws. By taking care of these important aspects, the buyer can ensure compliance with TDS requirements and avoid any potential penalties or legal repercussions.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Applicability of TDS on Sale of Property by NRI in India: Things to be Taken Care of by the Buyer &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Navigating TDS on Sale of Property by NRIs in India: Buyer&#8217;s Responsibilities Demystified\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/#more-4471\">Read more<span class=\"screen-reader-text\">Navigating TDS on Sale of Property by NRIs in India: Buyer&#8217;s Responsibilities Demystified<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":4477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[107],"tags":[263,754,755,261,100,262,252,749,514],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TDS on Sale of Property by NRIs | Buyer&#039;s Checklist<\/title>\n<meta name=\"description\" content=\"Get insights on TDS for property sale by NRIs in India. Buyer&#039;s checklist: NRI status verification, TDS calculation, Form 16B, compliance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aktassociates.com\/blog\/navigating-tds-on-sale-of-property-by-nris-in-india-buyers-responsibilities-demystified\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navigating TDS on Sale of Property by NRIs in India: Buyer&#039;s Responsibilities Demystified\" \/>\n<meta property=\"og:description\" content=\"This article provides an overview of the Tax Deducted at Source (TDS) requirements on the sale of property by Non-Resident Indians (NRIs) in India, with a focus on the responsibilities of the buyer. It covers important aspects such as NRI status verification, TDS calculation, TAN requirement, timely deposit of TDS, Form 16B issuance, TDS return filing, and compliance considerations. 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