TDS stands for Tax Deducted at Source. When a Non-Resident Indian (NRI) receives rental income from property located in India, the tenant is required to deduct TDS at a specified rate and remit it to the Indian government.
TDS stands for Tax Deducted at Source. When a Non-Resident Indian (NRI) receives rental income from property located in India, the tenant is required to deduct TDS at a specified rate and remit it to the Indian government.
TDS Rates for NRI Property Rental Income:
The TDS rate for NRI property rental income depends on various factors, including the nature of the property, the relationship between the landlord and tenant, and the location of the property. Here are the general TDS rates:
Residential Property:
Where the landlord is an individual: 20%
Where the landlord is a company: 30%
Commercial Property:
Where the landlord is an individual: 30%
Where the landlord is a company: 30%
Note: These are general rates. The actual TDS rate may vary depending on specific circumstances and any applicable tax treaties between India and the NRI’s country of residence.
TDS Deduction and Payment:
Time of Deduction: TDS must be deducted at the time of payment or credit to the NRI landlord.
Calculation: The TDS amount is calculated as a percentage of the rental income.
Payment: The deducted TDS must be remitted to the government within the specified due date.
Deduction Certificates:
The tenant must issue a TDS deduction certificate (Form 16A) to the NRI landlord, which details the TDS deducted and remitted. This certificate is essential for the NRI to claim tax deductions in their country of residence.
Tax Credits:
NRIs can claim tax credits in their country of residence for the TDS deducted in India. This helps avoid double taxation. However, the specific rules and procedures for claiming tax credits vary depending on the NRI’s country of residence.
Exemptions and Deductions:
In certain cases, NRIs may be eligible for exemptions or deductions from TDS. For example, if the NRI is a senior citizen or has a disability, they may be entitled to a higher exemption.
It’s important to note that tax laws can change, and it’s advisable to consult with a tax professional or accountant for the most accurate and up-to-date information on TDS on NRI property rental income.
Would you like to know more about specific exemptions or deductions available for NRIs regarding TDS on property rental income?
Terms & Conditions
Govt fee Rs 1000 extra to be borne by the client
All tax payments and penalties if any to be borne by the client
Stamp paper and notary should be borne by the client
This pricing is applicable only if the LLP is not having any assets and liabilities.
There will be additional charges if there is BANK ACCOUNT STATEMENT transactions having above 100 entries
DINeKYC & DSC needs to be active till the e-filing status of the LLP changes to “UNDER PROCESS OF STRIKE OFF”.
Separate forms to be filed with MCA for updating of Registered Office address/mail id & and the add/remove partners (additional charges applicable).
LLPs must file FORM-3 within 30 days of incorporation. Failure to do so incurs a penalty, which must be paid before filing FORM-24 for closure of LLP with the MCA.
TDS on Property NRI: A Comprehensive Guide
TDS stands for Tax Deducted at Source. When a Non-Resident Indian (NRI) receives rental income from property located in India, the tenant is required to deduct TDS at a specified rate and remit it to the Indian government.
TDS Rates for NRI Property Rental Income:
The TDS rate for NRI property rental income depends on various factors, including the nature of the property, the relationship between the landlord and tenant, and the location of the property. Here are the general TDS rates:
Note: These are general rates. The actual TDS rate may vary depending on specific circumstances and any applicable tax treaties between India and the NRI’s country of residence.
TDS Deduction and Payment:
Deduction Certificates:
The tenant must issue a TDS deduction certificate (Form 16A) to the NRI landlord, which details the TDS deducted and remitted. This certificate is essential for the NRI to claim tax deductions in their country of residence.
Tax Credits:
NRIs can claim tax credits in their country of residence for the TDS deducted in India. This helps avoid double taxation. However, the specific rules and procedures for claiming tax credits vary depending on the NRI’s country of residence.
Exemptions and Deductions:
In certain cases, NRIs may be eligible for exemptions or deductions from TDS. For example, if the NRI is a senior citizen or has a disability, they may be entitled to a higher exemption.
It’s important to note that tax laws can change, and it’s advisable to consult with a tax professional or accountant for the most accurate and up-to-date information on TDS on NRI property rental income.
Would you like to know more about specific exemptions or deductions available for NRIs regarding TDS on property rental income?