How Many Days It takes to Get a Zero Tax certificate

 

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How Many Days It Takes to Get a Zero Tax certificate? When a buyer buys a property exceeding Rs 50 lakh, he must deduct tax at source, as per the law. To get the Zero Tax Certificate, the buyer must submit Form 16A to the income tax authority. The procedure for getting a TEC depends on the type of property purchased. In some cases, a buyer can also apply for a TEC without having to pay the tax.

 

An NRI must file Form 13 with the Income Tax Department. This form is called a Zero Tax Certificate and allows the NRI to lower his TDS liability. It is a complex process, and most NRIs hire Chartered Accountants to file the application on their behalf. It is recommended to consult with an accountant or Chartered Accountant if you plan to make this type of payment.

 

When a NRI sells a property, the proceeds of the sale must be deposited in an NRO account in India. It is also necessary to get a copy of the sale deed and any other property documents for tax compliance. Once the sales agreement is signed, the Jurisdictional Officer will process the TDS Certificate. A buyer should avoid accepting a large amount at the time of signing the contract, and instead receive a small amount at the time of the sale agreement.

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