ITR Filing for Sale of Property

Understanding TDS on Sale of Property

  • For Properties Over ₹50 Lakhs
  • TDS Deduction Basis for NRI Sellers
  • Compliance for Buyers
  • Determining the Seller's Residential Status
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Work Process

How We Work

01

Document Collection

Securely upload your documents through our portal

02

Review and Consultation

Our experts review your documents, advising on the best tax-saving strategies.

03

Draft Return

We prepare a draft of your return, focusing on maximizing your refunds and ensuring compliance.

04

Review and Finalize

You review the draft, and we finalize your return based on your feedback.

Checklist

Documents Required

Buyer and Seller KYC with email id and mobile no.
Drafted sale deed if available.
Purchase invoice copy if available.

Service

What's included

Efiletax is an online platform that offers ITR filing for salaried. Here are some ways Efiletax can help individual with their ITR filing process:

Critical Review of Your Documents: Before proceeding, we conduct a thorough review of all your documents to ensure accuracy and completeness. This critical step helps in identifying any discrepancies early on, ensuring a smooth filing process.

Drafting Your Return: Upon successful verification, we prepare a draft of your tax return. This draft is sent to you for review, ensuring you are informed and satisfied with the computations and the details to be filed.

Finalizing and Filing Your Return: After incorporating your feedback and with your consent, we proceed to finalize your tax return. We ensure the filing is compliant with all regulations and is submitted within the stipulated deadlines. Your active involvement is crucial at this stage to complete the filing process seamlessly.

Introduction

At efiletax, we understand that filing taxes in India can be a daunting task, especially when it comes to 26QB filing. As a non-resident Indian (NRI), it can be even more challenging to navigate the complex tax laws and regulations that apply to your situation.

That's why we offer a comprehensive 26QB filing service that is designed to make the process simple and stress-free for NRIs. In this guide, we will provide you with an overview of our 26QB filing service and how it can help you with your tax filings.

Understanding 26QB Filing

26QB filing is a form of tax filing that is required for NRIs who sell property in India. It is important to file 26QB and pay the required taxes on time to avoid any penalties or legal issues.

At efiletax, we have a team of experts who specialize in 26QB filing for NRIs. We can help you navigate the complex tax laws and regulations that apply to your situation, and ensure that your 26QB filing is accurate and up-to-date.

Our 26QB Filing Service

Our 26QB filing service is designed to meet the specific needs of NRIs who sell property in India. It includes a range of services that are tailored to your situation, including:

  • Tax Assessment: Our team will assess your tax situation and determine the taxes you are required to pay for the sale of property in India.
  • Preparation of Form 26QB: We will prepare Form 26QB and ensure that all the necessary details are accurately filled in.
  • Payment of Taxes: We will facilitate the payment of taxes on your behalf, ensuring that all taxes are paid on time to avoid any penalties.
  • Issuance of Form 16B: We will ensure that Form 16B, which is required for NRIs selling property in India, is issued to you on time.

Why Choose efiletax for 26QB Filing?

At efiletax, we have years of experience in 26QB filing for NRIs, and we understand the unique challenges faced by NRIs when it comes to tax filing. Our team of experts is dedicated to providing you with the highest level of service and support, so you can have peace of mind knowing that your 26QB filing is accurate and up-to-date.

Additionally, we offer competitive pricing and flexible payment options, so you can choose a plan that fits your budget and meets your specific needs.

Conclusion

If you are an NRI who has sold property in India and needs help with 26QB filing, efiletax is here to help. Our 26QB filing service is designed to make the process simple and stress-free for NRIs, and our team of experts is dedicated to providing you with the highest level of service and support.

Contact us today to learn more about our 26QB filing service and how we can help you with your tax filings.

FAQ:

Check the seller's residential status using the Income Tax Department's calculator or by assessing their physical presence in India over the past year.
Incorrect or non-deduction of TDS can lead to penalties from the Income Tax Department, emphasizing the importance of compliance.
Yes, by utilizing the DTAA between India and their country of residence, NRIs can avoid double taxation on the sale of property in India.

How can NRIs repatriate sale proceeds?

After fulfilling tax obligations, NRIs can repatriate funds using Forms 15CA and 15CB, subject to the annual limit.

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