Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaul

Income Tax on property: There is a problem with the Income Tax law due to which in immovable property sale cases, Taxpayers especially NRIs may face both TDS and TCS depending on how the sale proceeds are handled. The solution to this problem is lower/nil TDS and TCS certificates. However, these procedures increase compliance cost and complexity.

from Tax-Wealth-Economic Times https://ift.tt/9yxg0nI