How is TDS calculated while buying property from an NRI?

Prices of the immovable properties are always soaring in India which makes it an investment. TDS on immovable NRI properties After July 23, 2024, if a person purchases any immovable property from an NRI, he must pay the following tax: Property held for 2 or more years: If a property is held by an NRI for more than 2 years, it is calculated as Long Term Capital Gains. Property held for 2 or fewer years: Such capital gains are called Short Term Capital Gains and are calculated at 30 per cent. No Cost indexation for NRIs It must also be noted that earlier the long-term capital gains were calculated subject to the Cost Inflation Index. Buyer responsible to pay TDS While purchasing a property, the buyer must also know that it holds the primary responsibility for collecting the tax from the NRI seller and depositing by filling deduction and payment details in Form 27Q.