Redevelopment of our property in Mumbai
1 year ago
We are in consultations with redevelopment of our property in Mumbai with a developer (selling and buying back an apartment). He has stated that while paying a token amount during the signing of the Memorandum of Understanding, he would deduct a 20% TDS since I am an NRI. What is not clear from the developers side is that, that would be true even if the money is paid to my mother, especially since Captial gains is applicable to all. The property was purchased in the 1950's. So my question is, is the developer correct? Is he right in saying that if I sign the POA, to my mother, there is no tax to be paid at source?
A.Dear Sir,
You may please contact local lawyer who is well versed with local laws to get authenticated legal advise on the given subject matter.
You may please contact local lawyer who is well versed with local laws to get authenticated legal advise on the given subject matter.
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