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The U.S. imposes a 15% withholding tax on the amount realized in connection with the sale of a U.S. real property interest unless advance IRS approval is obtained for a lower rate. [15] Canada imposes similar rules for 25% withholding, and withholding on sale of business real property is 50% of the price but may be reduced on application.
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
In a real estate context, an option fee is money paid by a buyer to a seller for the option to terminate a real estate contract. Option fee funds should not be confused with earnest money . The use of option fees is most common in the residential resale market in Texas.
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Garrett Nussmeier threw for 304 yards and three touchdowns as LSU beat Baylor 44-31 in the Texas Bowl on Tuesday. Nussmeier, who finished 24 of 34, tossed scoring passes of 10 yards and 1 yard to ...
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Inflation heated back up again in November, but it likely wasn’t bad enough to keep the Federal Reserve from cutting rates next week. Consumer prices were up 2.7% for the 12 months ended in ...
Texas Southern (3-8, 2-6) took a 21-0 lead at the end of the first quarter after Owens capped each of the Tigers' first three possessions with TD runs of 3, 2 and 30 yards.