r/AskIndiaTax

On 15 September 2024 (Sunday). 21 units of RSUs were vested, they were taxed at the rate of 35% and 8 share were sold by the company to cover the taxation (sell-to-cover).

In the release confirmation PDF from ETrade. Following are the details for the RSU grant

• Release Date: 15 Sept 24
• Shares Released: 21
• Market Value per Share: 171.78 USD
• Award per share: 0 USD
• Sale Price per Share: 171.2834 USD
• Shares issued = Total shares - sold = 21 - 8 = 13
• Tax = Taxable sum @ 35.88% = 35.88% of 3607.88 (value of 21 shares) = 1294.33 USD
• Cash Distribution = Total Sale Price = 1370.27 (8 shares sold by company) - 1294 (total tax) - 4.99 (fees) = 70.95 USD

According to what I found, since 15 and 14 Sept 24 were bank holidays. I need to use the SBI TT buying rate on 13 Sept 24 which is 83.52.

Total vesting value of 21 shares = shares * share_price * tt_buying = 21 * 171.78 * 83.52 = 301288.3776 INR

Total value of shares I was holding (total - sold by company) = sold_shares * sale_price * tt_buying = 13 * 171.2834 * 83.52 = 185972.664384 INR

This is where I am confused. whether Total vesting value of 21 shares i need to use or Total vesting value of 13 shares i need to use for initial value of investment?
Pls help.

Hi guys, I'm a freelancer and soon onboarding a client

I want to know what documents to keep ready to onboard them and if there are specific tax-related or registration documents required, I would like to know that too. I'm feeling very confused reading so many articles on Google.

Any help is appreciated.

Hello everyone,

I am seeking guidance on a Section 195 TDS issue related to a proposed property purchase from an NRI seller.

Facts:

• I deposited TDS under Section 195 for the purchase of a property from an NRI seller.
• The TDS amount deposited was approximately ₹2.29 lakh.
• Subsequently, the transaction was cancelled and the property was never registered in my name.
• I have a duly executed cancellation agreement and supporting documents.
• No ownership rights were transferred to me.
• The seller has since sold the property to another buyer.

My questions are:

1. Since the transaction never materialized, is there any legal procedure through which I can recover or obtain a refund of the TDS amount deposited?
2. Should Form 27Q be filed in such a situation, or is there any alternative compliance/correction process?
3. The seller is now requesting that I file the TDS return in a manner that allows the tax credit to be given to his NRI relative, and he has offered to reimburse me separately. Is this legally permissible, or could it create complications for me in the future?
4. Has anyone dealt with a similar situation involving Section 195 TDS on a cancelled property transaction?

I would greatly appreciate guidance from tax professionals or anyone who has handled a similar case.

Thank you.

#Section195 #TDS #NRI #IncomeTax #PropertyTransaction #Refund