I am planning to buy a flat for 25 lakhs ( old flat 20 years old) from an known person but he is now an OCI, Overseas Citizenship of India, settled in Australia.
We agreed to have registration next month.
But I heard about TDS of 20.8% that seller has to pay before the registration and submit the receipt on the registration day itself. Is this procedure for OCI?
My seller is not aware of this.
1) What are the details I need to inform/check the seller regarding TDS.
2) What if my seller doesn't agree to pay TDS.
Is there any other option?
3) Can the registration happen without paying TDS, allowing the seller to pay later.
Need clarity on this TDS part and how to proceed.
Thank you
