Gururaj Associates provides TDS Services to the buyer of the property from NRI or Foreign National. If, NRI or Foreign National wants to sell his property in India to the Indian buyer. Instead of 1%, buyer has to deduct 20% from sale value according to the applicability of cess and surcharge for eg:
If property value is less than 50 lakhs
Then calculation would be 20.0%
Cess 4% on 20% i.e 0.8%
Total 20.8%
If property value is more than 50 lakhs and less than 1 Crore
Then the calculation in TDS 20.00%
Surcharge 10 % on 20% 2.00%
Cess 4% on total tax and surcharge ie, 0.88%
Total 22.88%
If property value is more than 1 Crore
Then the calculation would be 20.00%
Surcharge 15 % on TDS 3.00%
Cess 4% of both TDS & Surcharge 0.92%
Total 23.92%
Then so much of money has to be deducted from the sale value and issue challan to the seller (Not 26QB and also not immediately but at the end of the quarter) If the seller feels the deducted money is huge, he can apply for lowering the TDS rate with the department. Gururaj Associates helps you in getting it so that TDS amount can be reduced and on hand cash would be more in the hands of the seller.
Gururaj Associates has been established since 2001, with a vision of reaching Income Tax Services to the people who are Business Owners, Salaried Professionals ETC.
Doing the right things, in an independent, confidential, fair and ethical manner
We continually improve through listening, learning and innovation
Develop analytical and practical expertise in domain.
Working together with other professionals globally to achieve client's goals
Tailored solutions designed specifically for your unique needs.
Working together to unlock your business’s full potential.
Guiding your decisions with deep market expertise and foresight.
Always here, whenever you need us.
