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Monday, December 23, 2024 | 08:25 PM ISTEN Hindi

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NRIs should obtain TDS certificate in advance for lower deduction at source

It will lower the tax deducted at source and they won't have to wait a long time for refunds

tax, taxes
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Arvind Rao
Manish Shah was elated when his siblings and he finally managed to sell their ancestral family property located in Mumbai to a well-known developer in October 2016. The deal took a long time to close due to various reasons, including the fact that Shah and his brother, besides being the key negotiators in the transaction, are also non-residents.

The developer who bought the property made all the family members (eight of them) parties to the agreement and paid each his respective share according to the Will left behind by their grandfather.

Tax deduction for non-residents: Going by the rules, the developer deducted

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