NRI Lower TDS Certificate on Sale of Property
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We are handling more than 7280+ successful clients and providing them with services which covers Legal, Technical, Taxation and other business compliance part. That all says a lot on our ways of working and our expertise in the area.
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At AKT associates we have been our client’s obvious choice since more than 7 years. For serving you with the best results we use our experience of decades which has exposed us with deep understand.
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With a strong team which comprises of experts with qualification like CA, CS, MBA & LLB and they will all available with the wholesome result, with dedicated customer service team and support staff. We are always there to execute your work efficiently.
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We touch the top position not just because we are the best in what we do but also because we know the value of your time and money. We know the value of your time so all the work by AKT Associates is performed on time and at around 70% less cost in comparison to all the other leading firms of the market that too without compromising on the quality aspect.
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The services of the firm are performed and delivered by using the cutting edge technology which makes the AKT Associates always available & deliver services right in your email. So it doesn’t matter where you are because we are always at your finger tips.
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Let it clear the confusion
*If an Indian citizen is spending at least 182 days out of India.
*The person is in India for 2 months in the previous year and has lived in India for entire one year in last four year preceding to Previous year
His residential status can be said as NRI For CIO (Citizen of Indian origin) & Erstwhile PIO (Person of Indian Origin )only 1st condition is applicable.
To learn more, you may also watch this video: https://youtu.be/KGLvkpoxSAA
For an Indian NRI TDS rate U/s 195 is 22.88% i.e. 20% TDS plus 10% Surcharge & 4% Education Cess, of Sale or agreement value. While 1% TDS rate is only applicable for resident property sellers and not in case seller is NRI or CIO card holder. This is rate is same as Capital gain tax rate for NRI tax payers.
To learn more, you may also watch this video: https://youtu.be/SUf0uOOC03g
Never try to do this, although we have heard many NRI doing this, and proudly claiming that they got complete payment without an issue. However, considering that the IT can easily get you taxes residency status using you bank details or Passport visa details. The follow up consequences will be terrible, you will not only liable to pay tax at a higher rate but also get penalties along with imprisonment for mis-declaration. Apart from you the buyer will also be in trouble and can face similar consequences. So never take a short cut instead take proper procedure and obtain NIL/Lower TDS deduction certificates.
Currently the process is upgraded to Online Application by filing form 13 and submitting an attachment, However, post upload physical documents also need to be deposited duly signed. Still, we need to follow up with jurisdictional Assessing Officer (Income Tax Officer) a multiple time and also need to submit supporting and information for queries raised by him. With our network of associates all over India, we are well coordinated with every IT office in India.
To learn more, you may also watch this video: https://youtu.be/tEKpNBJtXIg
Not exactly, He can authorize someone on his behalf and get it done from his country of current residence. You can authorize AKT Associates to take care of end-to-end TDS proceedings.
To learn more, you may also watch this video: https://youtu.be/NZXsaTdRp1s
When Property is held for a period more than 24 months then profit arrived on such properties are called long-term capital gain. While if the property is sold before 24 months it is called short-term capital gain and tax paid on that is called Short term capital gain tax which is currently 34.2% for NRI person without any indexation.
In that case, TDS will be required to paid however the NRI person can claim a refund by filing IT Return. In such a situation, we will assist you in Filing the return and also liaison with IT Department for timely refund issue directly to your NRI Accounts. Fees can be charged based on work scope.
To get NIL or No TDS Certificate, a calculation need to be submitted along other documents to satisfy Assessing officer that there is no Capital gain is arising from the given property sale.
When Income tax department stating No TDS is required to be deducted issues a TDS certificate, then it is called NIL TDS or Zero TDS Certificate or Non TDS deduction certificate. In such situation seller of the property gets complete sell to proceed without any deduction, Not even 1% Deduction. This can happen on the basis of Capital gain calculation which is prepared by a CA or Expert in Capital gain matters
Are you an NRI? Planning to sell property in India?
Apply for Lower/No TDS Certificate U/s 197 in advance
to avoid 22.88% Deduction.
Seller Comprehensive Compliance
(NRI TDS of property sale consulting)
* For Joint Owners there will be Separate Application for each Owner.
* Fees can be shared equally between Buyer and Seller.
* 99% cases the Application will be approved however if Application is reselected due to Lack of Documents. The Fees will be either adjusted towards other Compliance or refunded proportionally to the ratio of work done.
What Our Customers Are Saying
Nitish who was my point of contact was amazing. He knows the process in depth and was very quick to respond.
The prices of the services are reasonable given their exceptional services.