Transfer of Property

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..... Transfer of Property
Query (Issue) Started By: - KUMAR Narasimhan Dated:- 15-4-2022 Last Reply Date:- 7-4-2023 Income Tax
Got 1 Reply
Income Tax
Dear Sir / Mam, An NRI transfer his funds .....

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..... ₹ 2 crore to NRO account and participated in Auction to buy a property, and transferred the amount to bank. Now the original owner of that property is requesting NRI to give back the property t .....

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..... o him and he is ready to pay NRI ₹ 25 Lakhs for this. Now bank will refund the 2 Crore to NRI to his saving account. In this process NRI received as Income ₹ 25 Lakhs without doing the pr .....

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..... operty registration. How to treat these transaction in Income tax Withrespect to NRI and Actual Owner of the property? Should Actual owner to deduct TDS @ 20.88% for the NRI transaction? Reply By P .....

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..... admanathan Kollengode: The Reply: In my humble opinion, the income will be taxable as "income from other source" in the hands of the NRI. The Actual Owner has to deduct TDS @ 20.8% on 25 la .....

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..... khs u/s 195.
Discussion Forum - Knowledge Sharing .....

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