Capital gains Income tax( India ) info help needed

[bombay99]

If we are selling any property in India with Giving G.P.A to parents Capital gains tax need to pay before or after to IT department based on NRI status 

 

Can some one explain how does this work 

 

I am selling a joint property buyers is saying we need to pay capital gains tax to income tax dept. before registration because i am not physically present there NRi's should pay tax before on capital gains?

 

 

 

 

Should an NRI pay taxes on gains made on the sale of property in India?

Property sold in India is generally subject to tax deduction. The person buying the property must deduct taxes at the rate applicable to the NRI’s income slab, if the property is a short term asset. If the property is a long term asset, 20% LTCG tax applies. Further, it is important for the NRI to ensure that taxes are deducted on the gains made and not on the sale proceeds. A jurisdictional Assessing Officer can help to determine the gains on which taxes should be deducted by the purchaser.

[killbillpandey123]

Yes, if NRI and selling property above 50 lakhs on registration, then buyer needs to deduct 20% tax and pay you, it is buyer responsibility to pay to govt are else he will be penalized.