Complete Guide to Buying Property from NRIs/OCIs in India: Key Considerations for Buyers
When property hunting in India’s major cities, buyers often encounter attractive deals involving Non-Resident Indian (NRI) or Overseas Citizen of India (OCI) sellers. These transactions present lucrative opportunities but come with specific legal, tax, and procedural requirements that buyers must understand to avoid complications and penalties. Tax Deducted at Source (TDS): Your Primary Obligation The most significant difference when purchasing property from NRIs/OCIs versus resident Indians is the substantially higher TDS rate. Under Section 195 of the Income Tax Act, buyers …
