Many buyers unknowingly fall into a tax trap when purchasing property from Non-Resident Indians (NRIs). Under Section 195, buyers must deduct TDS before making any payments—including advance or token amounts! TDS Applicability: Long-Term Capital Asset– 12.5% (plus surcharge & cess) Short-Term Capital Asset – 20% (plus surcharge & cess) Buyer Beware! Failure to deduct TDS …

Attention Home Buyers! Buying Property from an NRI? Read This Before You Pay! Read More »