Buying property in Australia? Here are income tax compliance you should know before you purchase
Section 194IA requires a buyer to deduct 1% tax if buying property from a resident exceeding ₹50 lakh. Section 195 applies if the seller is a non-resident. Different tax rates apply based on long-term or short-term capital gains. TAN is required for non-resident transactions but not for residents
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Section 194IA requires a buyer to deduct 1% tax if buying property from a resident exceeding ₹50 lakh. Section 195 applies if the seller is a non-resident. Different tax rates apply based on long-term or short-term capital gains. TAN is required for non-resident transactions but not for residents
