r/IncomeTax_India

I'll be getting taxed from the next year, and when I was going through my expected tax calculations, I saw that income till 12.75 Lakhs is exempt from income tax, but when your income increases from 12.75L, then income tax is calculated on the whole income and not the difference above 12.75L. Am I understanding it correctly?

I’m an NRI selling a residential property in India and would appreciate advice from anyone familiar with NRI property TDS / Section 195 (and the corresponding provisions under the Income-tax Act, 2025).

My facts:

• Property purchased in June 2018 for ₹49.90 lakh
• Stamp duty and registration were paid separately
• Proposed sale in October 2026 for ₹70 lakh
• Property has therefore been held for more than 24 months and should be LTCG
• I’m an NRI
• Sale proceeds will be credited to my Indian bank account; I am not planning to remit the money abroad
• The buyer wants to deduct 13.5% TDS on the entire ₹70 lakh, i.e. ₹9.45 lakh

The Income Tax Department's NRI property FAQ appears to say that for an NRI selling long-term immovable property, “the tax shall be deducted from the gains”, with a 12.5% LTCG rate for transfers on/after 23 July 2024. https://www.incometaxindia.gov.in/w/what-is-the-applicable-tds-rate-when-a-non-resident-sells-immovable-property-in-india-?utm_source=chatgpt.com

My approximate capital gain before considering stamp duty/registration and other eligible costs is only around ₹20.1 lakh.

The buyer is willing to deduct TDS based on the actual taxable gain, but his CA says they need an lower-TDS determination before doing so. We only have about 10 days before the proposed sale, so obtaining an order may be difficult.

My questions:

1. If the buyer deducts TDS on the capital gain rather than the full ₹70 lakh without first obtaining the LDC, what is the actual legal risk/liability for the buyer?
2. Is the buyer legally required to deduct TDS on the entire ₹70 lakh simply because I am an NRI, or can TDS be based on the taxable capital gain?
3. If excess TDS is deducted on ₹70 lakh, I understand I can claim the excess back through my ITR, but that would unnecessarily block ~₹6–7 lakh. Is there a practical way to avoid this?
4. Has anyone actually gone through the Form 129 / AO determination process recently, and how long did it take?

I’m particularly interested in responses from Indian CAs, tax lawyers, or people who have actually handled an NRI property sale.

Did anyone filed ITR 3 on 18th July and got the refund ?

I got a mail for the fast DS and have few queries wrt it.

I joined a company in 2021 and got 3L per year worth of stocks. The first vesting happened in 2022 and post that quarterly it gets vested.

I filled my first ITR in 2022 -- this was all good as I haven't received any stocks so far.

However in 2023 and 2024 I received RSU worth around 7L and few 100s doller dividend on it. However, I didn't disclose this in FA and neither about the dividend.

However, in 2024 end, I changed my company and in 2025 ITR I did report all the RSUs that i was holding. Also, i haven't sold any of the RSUs so far.

Also, in the latest 2026 ITR too I have been disclosing the FA and dividends correctly.

Could you help on what is to be done in such cases?

Also, my new company is giving me RSUs too and the overall value this year has crossed 20L ( but I am reporting it correctly). The only time I missed it was for year 2023 and 2024.

As in title I have INDmoney account since 2021, I've done very minimal amount of transactions. Now I've received notification under Fast DS. When I checked AIS, I see 1$ or 83 rupees as interest. The account balance itself is zero for drive wealth/ INDmoney account. What should I do ? Should I submit clarification? Should I file the 2023-24 itr again ? I have nothing shown in AIS from 2024 onwards or before 2022 too.

I got my RSUs first in Sept 2023 and since then for FY 23-24, 24-25, these are not declared. My CA has told me that it is not needed as no withdrawals were made and has applied for ITR-1 for the last two years. For FY 24-25, the total stocks were above 20L. I made some withdrawals in FY 25-26 and wanted to apply ITR-2 this time. My CA said he'll apply and ghosted me.

After going through the reddit, found out that last two ITRs also need to updated with schedule FA along with the current one. But my CA has also applied deductions via old regime via Sec 10(14)(i), Sec 10(13A), 80DD, 80EEB etc. which might be fradulent (found out after going through this sub). I haven't received any notice so far. I plan to apply this year's ITR FY 25-26 fully compliant. Now, do I have to completely update these too along with schedule FA or leaving them as is is ok? And do I have to do anything other than updating Schedule FA? Please do recommend any CAs who can fix this for me and how much should I expect it to cost?

Anyone who revised their ITR 4 and got refund or anyone who haven't got refund of ITR 4 SINCE MAY JUNE JULY

My wife and I have been NRIs since 2021. Our AIS/REPORTS are showing Foreign bank accounts in CY 2022, 2023 and 2024. These accounts are in our joint names but total amounts are shown against each PAN (meaning the total amount shown is double of the actual). Should we provide feedback saying the amounts shown are of joint accounts? Or ignore as we are NRIs?

I’m purchasing an under-construction apartment in Bangalore and am making the final payment to the builder.

I’m a single buyer and there is a single seller/builder.

The total Sale/Agreement amount is approximately **₹1.50 crore, including GST and other misc charges**.

I’m now filing the **new Form 141** for the TDS on the final installment. The form asks for **“Total Stamp Duty Value of the Property.”**

My question is: **What exactly should be entered as the Total Stamp Duty Value?**

Should it be:

1. The ₹1.50 crore total agreement/SOA value including GST?

2. The agreement value **excluding GST**?

3. The stamp-duty/guidance value used by the Karnataka registration department? If yes how to get this easily ?

4. Some other value mentioned in the sale agreement/registration documents?

# One additional concern

If I enter the **full sale consideration including GST** as the “Total Stamp Duty Value” in Form 141, does that have any implication when I subsequently register the property?

My understanding is that **GST should not itself form part of the value on which stamp duty/registration charges are calculated**. If the Form 141 stamp-duty value is treated as including GST, I am concerned that I could effectively end up paying registration/stamp-duty charges on the GST component as well.

For example, if the ₹1.50 crore includes GST, should the stamp-duty value potentially be based on the **property consideration excluding GST**, subject to the applicable Karnataka guidance/stamp-duty value?

Has anyone who has recently filed **Form 141 and** dealt with this exact situation?

I hold US company RSUs vested from my previous organization which I left in 2021 Oct. RSUs vested was shown as Salary income in the year vested and I used to pay tax on them. I was not aware that we are also supposed to declare it as FA while submitting ITR.

Last year I got a notice to refile ITR with details of FA that are there in my name, so re-filed the ITR. This year also I filed the details of my US stocks holding. I do not have any other FA other than these stocks which vested.

Looks like even though there is no shares vested after I left the organization, every year around $40 dollars is added as dividend and after tax withhold of 30% by morganstanley rest were re-invested into the shares.

few days back I got a Advisory saying "Important Advisory: Opportunity for Voluntary Compliance regarding Foreign Assets (FAST-DS, 2026)" came from Income Tax dept.

I Looked in AIS and found that there is 40$ FA dividend being shown roughly around Rs3000. for the years 2022,23,&24.

I was reading lot of articles and they are saying that I need to file FAST-DS under category and pay a fees of Rs 1Lakh. I am confused what to do.

Please suggest.

I'm trying to figure out if I need to opt into the new FAST-DS 2026 scheme or if I am already legally protected.

My situation: I previously held foreign fractional shares and brokerage accounts (funded via LRS) but missed reporting them in Schedule FA for past assessment years (FY 2022-23 and FY 2023-24). My aggregate asset value was always well under ₹20 lakhs. I completely sold prior to October 2024. I plan to file an FAST DS for relized profit and dividend.

The dilemma: Finance (No. 2) Act, 2024 amended Sections 42 and 43 of the Black Money Act, granting penalty exemption for foreign movable assets under ₹20 lakhs, but it states "with effect from October 1, 2024."

Since FAST-DS offers a flat ₹1 lakh fee to regularize these exact Schedule FA omissions (Category B):

1. Can I rely on the ₹20L BMA amendment to protect me from the ₹10 lakh penalty for those older years such as 2022 FY,2023 FY and 2024FY(even though I sold before Oct 2024)?
2. Are there any ITAT rulings or CBDT circulars that confirm retrospective relief, or is paying the ₹1 lakh FAST-DS fee the only guaranteed way to buy immunity?