Title: THE ACQUISITION OF GOVERNMENT PROPERTY Author: DOUGLAS GOETZ Last modified by: Dawn Lowell Created Date: 3/23/2006 7:52:05 PM Document presentation format
Discover critical proposals for the government to streamline TDS regulations while purchasing real estate from non-resident Indians (NRIs) in India. Navigating tax issues is critical for purchasers, particularly when dealing with NRI sellers. Resident buyers must withhold tax payments in accordance with legislative requirements. However, TDS compliance is required only if the sales exceed Rs 50 lakh and the seller is an Indian tax resident.
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Tax deducted on Property to be deposited and Procedure for Deposit of TDS on Property Sale with Govt. The Buyer of Property is required to deduct TDS on Property from the Purchase price of the property and deposit this TDS with the Income Tax Department.
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