Audit & Assurance
Tax and TDS On Sale of Property
Descriptions
When selling a property in India, both residents and non-residents are required to comply with the applicable Tax and TDS (Tax Deducted at Source) provisions under the Income Tax Act. The buyer is responsible for deducting TDS at the time of payment and depositing it with the government. The rate of TDS and tax implications depend on various factors such as the nature of the seller (resident or NRI), holding period of the property, and type of asset sold. Failure to comply with TDS requirements can attract penalties and interest from the tax department.
Our team of Chartered Accountants provides expert assistance in determining the correct TDS rate, computing capital gains, and filing the required tax forms. We handle end-to-end compliance from obtaining TAN and filing Form 26QB to issuing TDS certificates and managing refund or exemption applications under Section 197. Whether you are a buyer or a seller, we ensure smooth, compliant, and tax-efficient property transactions.
Key Highlights:
- Calculation of TDS and capital gains on property sale
- Preparation and filing of Form 26QB and issuance of Form 16B
- Assistance in obtaining lower TDS or nil deduction certificates
- Advisory for NRI property sales and repatriation of sale proceeds
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