In continuation of our discussion on TDS under section 195. In this post, we will understand How to Deduct TDS on NRI Under Section 195 by resident Indians?. As per Income Tax Act 1961, Any person responsible for paying to Non Resident or Non Resident Indian, neither being a company nor being a foreign company, of any interest or any other sum chargeable under the provisions of Income Tax Act, 1961 (Excluding income chargeable under the head "Salaries"). Any such payment shall at the time of credit of such income to the account of payee or at the time of payment through any mode i.e. Cash, ... Read More
How NRI’s can lower TDS on Property Sale?
In my previous post on NRI's and TDS on sale of property we discussed basics of TDS on Property Sale by NRI. In this post we will understand how my NRI friends can lower the TDS on Property Sale. Before you decide to go ahead with property sale following 2 points should be considered 1. Type of Capital Gain from Property Sale i.e. Short Term Capital Gain or Long Term Capital Gain 2. Whether i am willing to pay capital gain tax or would like to save capital gain tax by Re-investment of capital gains Once these 2 points are clear then we are ready for property sale in India. Let's discuss the ... Read More