Tds on buying nri property
I am planning to buy a property from an NRI seller. The consideration amount is INR 50,01,000/-. Seller bought property in 2013 and is selling it now. NRI seller does not intend to avail benefits of any lower TDS. The property will be registered in my wife's name (to save registration charges @ 1% of the consideration). My questions are: 1) What will be the TDS % rate applicable my payment? 2) What will be the TDS amount that I need to deduct upfront from my payment? 3) Do I as a buyer need to apply for a TAN? 3) My wife is a homemaker. I am a salaried individual who will make the payment. We are planning to register this property in wife's name to save registration charges @ 1% of the consideration. In this case, who needs to apply for a TAN? As the property will be registered in my wife's name, does she need to apply for a TAN? 4) Which TDS form do I need to fill and submit? 5) How pay TDS online in this case? 6) The seller has given Power of Attorney to another person who will be executing the deal on behalf of the seller. We got the PoA verified from a lawyer and found it be valid, complete and correct. While paying TDS online, whose details do I need to enter as the seller's details? Details of the actual seller or the person who is holding PoA to sell the property? 7) As the property will be registered in my wife's name, whose details do I need to enter as the buyer?