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TDS Reporting for NRI Property Purchases: Key Changes You Need to Know Now!
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CNBC TV18•30-09-2026, 21:52
TDS Reporting for NRI Property Purchases: Key Changes You Need to Know Now!
- •Buyers no longer need a TAN; TDS will be reported via a challan-cum-statement, with a 30-day payment deadline from the end of the relevant month.
- •CBDT has added Schedule E to Form 141, requiring detailed information on the property, all buyers, and non-resident sellers, including PAN, contact details, and overseas tax identification.
- •If the non-resident seller lacks a PAN, buyers must provide their tax identification number from their country of residence, or a unique identification number issued by their foreign government.
- •The revised form mandates full disclosure of payment details, including agreement and registration dates, stamp duty value, sale consideration, and whether payments are in single or multiple installments.
- •Joint buyers must submit separate forms; these changes specifically concern TDS reporting and documentation, not property registration requirements.
Key Questions Answered
Under the new framework, the requirement for buyers to obtain a TAN has been removed, and TDS reporting will instead use the prescribed challan-cum-statement mechanism. Additionally, the CBDT has added Schedule E to Form 141 to capture comprehensive details of the property, buyers, and non-resident sellers.
If a non-resident seller does not have a PAN, the buyer must provide the seller's tax identification number from their country of residence. If that is unavailable, a unique identification number issued by the foreign government must be furnished.
Where there is more than one deductor in a property transaction, each joint buyer is required to submit a separate form.
