A report by Anarock found the demand for 3BHKs has now surpassed that of 2BHKs, and the sale of high-end apartments (above Rs.1.5 crore) has increased nearly four-fold since 2021. Meanwhile, demand for affordable housing (below ₹40 lakh) fell to 21% of homebuyers in the second half of 2023 from 25% in the second half … Read more
I am a NRI with a residential property in Mumbai that I have rented to a salaried individual. The monthly rent is ₹90,000 and the lessee has deducted TDS at 5%. In the lease agreement, I mentioned my Indian address and PAN but did not inform the tenant about my NRI status. Could there be … Read more
I live in a rented flat in Noida, U.P., paying a rent of less than two lakh per annum (INR). The flat owner is an NRI residing in Dubai, UAE. Please advise whether I, as a tenant, must deduct tax before paying rent every month to the NRI landlord. If yes, how much deduction is … Read more
For the buyer, this meant stamp duty savings on the ₹16 lakh portion. It seemed like a win-win until the NRI tried transferring the sale amount to his US bank account. When an NRI wants to remit money abroad, they must obtain certificate 15CB from a chartered accountant (CA) to prove the source of funds; … Read more
I am planning to buy a residential property from a person who is a resident of Australia for ₹75 lakh. I understand that since the sale consideration exceeds 50 lakhs I have to deduct tax at 1% of the sale consideration. Is my understanding correct? What are the other formalities that I need to comply … Read more