« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  A tax paper of the right standard... Assocham pleads for tax reduction... » TDS on purchase of property from an NRI November, 24th 2008 Many taxpayers are not aware that if they make any payment to a non-resident, they are liable to deduct tax at source. Where proceeds of the sale by the non-resident are remitted by a resident purchaser, tax is required to be deducted. In most cases, tax is directly paid by the non-resident. What is the position of law for the resident purchaser in such a case? Sec. 195 would require tax deduction at source on payments to non-resident, which are chargeable to tax in India. The purchaser on purchase of a property from a non-resident is expected to deduct tax on income by way of long-term capital gains at 20 per cent. The purchaser cannot know the cost of the asset and cost of improvement to the seller so as to arrive at capital gains unless the non-resident seller co-operates with the purchaser.