I bought a house at a price higher than stamp value. The builder said as an NRI, I don't need to deduct and pay TDS. Is this correct?
-Name withheld on request
Therefore, as an NRI, you are required to deduct TDS if the transaction meets the criteria. The deducted TDS must be remitted to the government by filing Form 26QB within 30 days from the end of the month in which the tax was deducted. Buyers are not required to obtain a TAN (Tax Deduction and Collection Account Number) for depositing the TDS in such transactions.
This story is from the December 31, 2024 edition of Mint Bangalore.
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This story is from the December 31, 2024 edition of Mint Bangalore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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