There are many NRIs willing to sell their property in India but could not recover the entire sale proceeds due to very huge TDS (tax deducted at source). Saluja Goyal and company assist such NRIs in understanding the basics of TDS and acquiring a lower deduction certificate (LDC) which can lower the TDS cap and reduces it to 5-10% which is exactly in line with the capital gain. We are a team of tax experts having deep insight into every clause of TDS and hence brief the rules and regulations of the tax department for property buyers. It is a mandatory process for a property buyer to deduct tax from the sale price and make a payment to the seller for the remaining money. This amount of tax deducted on the property sale depends on the type of seller; a resident or an NRI.
The TDS for resident Indians is very low but for NRIs, the amount is a huge lumpsum and is taxed at 20% with an additional cess of 4% and a surcharge of 10 to 15% from the total sale consideration. Our team of experts on brief section 195 of the Income tax act which covers the guidelines for the transaction of transfer of immovable property by a Non-Resident to a Resident. The LDC can be applied with the jurisdictional income tax authority and the application regarding the certificate is submitted under FORM 13 of the Income Tax Forms.
Saluja Goyal and the company offers trustworthy services in LDC certification and makes your property transaction easy and profitable.