✦ Business Set-up & ROC Compliance
NRI taxation in Gurgaon
Partner-led incorporation that gets your name approved, your SPICe+ filed right the first time, and your post-incorporation deadlines met — before they become penalties.
Gupta Varundeep & Co. (GVC Audit) is a Chartered Accountant firm in Gurgaon handling end-to-end Private Limited Company registration — name reservation, DSC and DIN, MoA and AoA drafting, SPICe+ Part A and Part B, PAN, TAN and TDS set-up, and the INC-20A, ADT-1 and annual ROC filings that follow — for founders, MSMEs and foreign-owned subsidiaries across Gurgaon and Delhi NCR. Every incorporation is reviewed by a qualified CA, not handed to a junior processor.
- ICAI-Registered Chartered Accountants
- 100% On-Time Return Filing Record
- Serving Startups to ₹100+ Crore Enterprises
- Partner-Reviewed Filings, Every Month
20+ Years
200+
Under Section 195 of the Income-tax Act, property buyers must deduct withholding tax at 20% plus surcharge and cess (effective up to 23.92%) on the total gross sale consideration unless the NRI seller obtains a Section 197 Lower / Nil TDS Certificate. Waiting for income tax refunds locks up millions of rupees for over twelve months. GVC Audit delivers CA-led Section 197 Form 13 certifications, Section 54 capital gains rollovers, Form 15CA/15CB outward foreign repatriations, and DTAA treaty advisory across Gurgaon and Delhi NCR.
The 3-step NRI real estate sale, capital gains & repatriation workflow
Liquidating luxury real estate in Gurgaon (DLF, Golf Course Road, Sohna Road, Dwarka Expressway) requires three synchronized steps to ensure zero tax lock-in and seamless outward remittance.
Step 1: Lower TDS Certificate (Form 13)
Filing Form 13 on the TRACES portal before executing the sale deed to compute tax strictly on net capital gains (after Section 54/54EC exemptions) rather than 20% on gross sale value.
Explore Form 13 savings ↓Step 2: Section 54 Capital Gains Rollover
Structuring full capital gains tax exemptions under Section 54 (residential reinvestment), Section 54EC (infrastructure bonds up to ₹50L), or Capital Gains Account Scheme (CGAS) deposits.
Review Section 54 rollovers ↓Step 3: Outward Repatriation (15CA / 15CB)
Issuing Chartered Accountant Form 15CB certificates, filing Form 15CA declarations, and coordinating with authorized dealer banks to wire funds directly to your overseas account.
Understand outward wire rules ↓The four core pillars of our cross-border NRI tax practice
Our cross-border practice integrates real estate taxation, DTAA double tax treaty relief, residential status engineering, and FEMA banking compliance.
Pillar 1: Real Estate Property Sale & Section 195 Withholding
Managing complete direct tax compliance for NRI sellers and buyers in Gurgaon real estate.
- Lower TDS Certificate (Section 197 / Form 13) processing on the TRACES portal
- Section 54, 54EC, and 54F capital gains optimization to achieve zero legal tax outgo
- Capital Gains Account Scheme (CGAS) setup with public sector authorized banks
- Adjudication of Power of Attorney (POA) and municipal mutation at the Gurugram tehsil
Pillar 2: Outward Remittance & Form 15CA / Form 15CB
Repatriating capital gains, rental income, and inheritances from India under FEMA guidelines.
- Chartered Accountant verification and certification in Form 15CB under Section 195
- Electronic filing of Form 15CA remitter declarations on the Income Tax e-filing portal
- Liaison with Authorized Dealer (AD Category-I) banks for NRO to overseas wire release
- Repatriation of inherited ancestral property proceeds under the USD 1 Million annual scheme
Pillar 3: Residential Status & Returning NRI (RNOR) Planning
Engineering tax residency transitions to protect global wealth from Indian income tax.
- Section 6 residential status determination: 182-day / 60-day physical presence modeling
- Section 6(1A) Deemed Residency planning for Gulf/UAE NRIs earning > ₹15L Indian income
- Resident but Not Ordinarily Resident (RNOR) tax shelter planning for 1 to 3 years post-return
- Foreign asset Schedule FA disclosures to eliminate Black Money Act penalty exposure
Pillar 4: DTAA Treaty Relief & NRE/NRO Banking Operations
Eliminating double taxation and optimizing cross-border banking yields.
- Double Tax Avoidance Agreement (DTAA) relief under Section 90 (Tax Residency Certificates & Form 10F)
- NRE account interest tax-free certification under Section 10(4)(ii)
- NRO account withholding tax reduction from 30% down to 10%-15% under DTAA treaty rates
- Foreign Tax Credit (FTC) filing in Form 67 to claim Indian taxes against US/UK tax liabilities
Cross-border tax frameworks across key global NRI jurisdictions
How Indian tax filings integrate with local tax authorities across the United States, United Kingdom, UAE, Canada, Singapore, and Australia.
CA-led cross-border tax advisory vs local property brokers
Property brokers focus solely on closing property sales and allow buyers to deduct 20%+ gross TDS. GVC Audit provides end-to-end Chartered Accountant governance protecting your net sale proceeds.
Fiduciary Cross-Border Advisory
- Partner-led supervision by CA Varundeep Gupta with deep international tax expertise
- Secures Section 197 Lower TDS Certificate (Form 13) within 30 to 45 working days
- Calculates exact capital gains deducting cost of acquisition, improvement & Section 54
- Issues Chartered Accountant Form 15CB certificates for authorized bank foreign wires
- Direct representation before the International Taxation Ward in Gurgaon / Delhi
- Harmonizes Indian tax filings with foreign returns (IRS Form 1040, HMRC, ATO)
Deal-Commission Focused
- Allows the resident buyer to deduct 20%+ TDS on the total gross sale consideration
- Cannot draft Form 13 applications or defend capital gains calculations on TRACES
- Locks up ₹30 lakh to ₹80 lakh in excess TDS refunds with the tax department for over a year
- Zero authority to issue statutory Form 15CB certificates for outward bank wire release
- Ignores FEMA regulations regarding NRO account remittance limits and source proofs
- Leaves NRIs completely unassisted when the Income Tax Department issues Section 148 notices
Comprehensive cross-border direct tax and repatriation services
From Section 197 Lower TDS certificates and Form 15CA/15CB outward remittances to returning NRI tax planning and DTAA treaty filings.
Section 197 Lower TDS Certificates (Form 13)
End-to-end processing of concessional withholding tax certificates for NRI property sellers.
- Accurate computation of Long-Term Capital Gains, indexed cost baselines, and improvement capex
- Filing electronic Form 13 on the TRACES portal with supporting registry and KYC documents
- Liaison with the International Taxation Assessing Officer in Gurgaon/Delhi until certificate issuance
- Delivering the digital Lower TDS Certificate to the buyer prior to final sale deed execution
Form 15CA & Form 15CB Outward Repatriation
Statutory Chartered Accountant certification for remitting funds abroad from India.
- Issuing Form 15CB CA certificates under Section 195 after verifying source of funds and tax paid
- Filing electronic Form 15CA declarations on the Income Tax e-filing portal
- Repatriation of property sale proceeds, rental income, dividends, and inherited estate assets
- A2 documentation and Form A2 coordination with Authorized Dealer (AD-I) banks in Gurgaon
Capital Gains Tax Planning & Section 54 Rollovers
Structuring real estate exits to legally reduce or eliminate capital gains tax liabilities.
- Section 54 exemption structuring: Reinvestment in residential property up to ₹10 Crore
- Section 54EC infrastructure bond investments (REC, NHAI, PFC, IRFC) up to ₹50 Lakh
- Capital Gains Account Scheme (CGAS) setup with public sector banks before ITR due dates
- Inherited property cost of acquisition grandfathering and legal title document review
Returning NRI (RNOR) & Foreign Asset Disclosures
Tax residency transitions and global asset compliance under the Black Money Act.
- Evaluating Resident but Not Ordinarily Resident (RNOR) status for 1 to 3 years tax shelter
- Structuring the repatriation of foreign 401(k), IRA, superannuation, and foreign bank deposits
- Schedule FA (Foreign Assets) and Schedule FSI reporting in Indian ITR to avoid penalties
- Redesignating resident savings bank accounts to NRO/NRE status matching FEMA rules
TDS
Why every NRI selling property in Gurgaon must obtain Form 13
When a resident seller sells property above ₹50 Lakh, the buyer deducts only 1% TDS under Section 194-IA. However, when an NRI sells immovable property, Section 195 mandates the buyer to deduct withholding tax at 20% (plus surcharge and cess) on the TOTAL gross sale consideration unless an official Lower TDS Certificate under Section 197 is presented.
If you sell an apartment in DLF or Golf Course Road for ₹5 Crore that you originally purchased for ₹4 Crore (net gain ₹1 Crore), without Form 13 the buyer must deduct over ₹1.19 Crore in TDS. With our Section 197 certificate, the Assessing Officer directs the buyer to deduct tax strictly on the ₹1 Crore gain @ 12.50% (₹12.5 Lakh TDS), keeping over ₹1.06 Crore in immediate cash in your hands.
- Timeline: Form 13 must be filed online on TRACES at least 30 to 45 days before the registry date
- Mandatory Documents: Agreement to Sell, original purchase deed, circle rate valuation, bank statements & ITRs
- Section 54 Benefit: Reinvestment in a new house or Section 54EC bonds is factored by the AO to issue a NIL TDS Certificate (0% rate)
- Valid for Specific Buyer: The certificate is issued in the name of the specific buyer TAN/PAN for that specific property value
- No Retrospective Effect: If the buyer executes the registry and deducts 20% TDS, Form 13 cannot be applied retrospectively; you must wait 12-18 months for an ITR refund
The complete NRI property sale and foreign repatriation timeline
A structured execution workflow ensuring legal safety, zero excess tax deduction, and swift outward wire to your foreign bank account.
NRI Property Sale & Tax Readiness Checklist
Five critical parameters to evaluate before signing an Agreement to Sell or accepting token booking advances for Gurgaon properties.
Audit my property transaction ↗- Your PAN is active and updated as a Non-Resident on the Income Tax portalEnsure your PAN is linked with your foreign address and designated as Non-Resident to facilitate Form 13 processing.
- Original purchase deed, allotment letter, and construction receipts are traceableMaintain proof of cost of acquisition and cost of improvement to claim legitimate capital deductions.
- An active NRO (Non-Resident Ordinary) bank account is ready in IndiaSale proceeds from immovable property in India must be credited strictly into an NRO bank account.
- The buyer has agreed to withhold tax strictly based on the Section 197 certificateIncorporate a specific clause in the Agreement to Sell allowing 30-45 days for Form 13 certificate issuance before final registry.
- Power of Attorney (POA) is properly notarized, apostilled, and adjudicated in GurgaonIf executing the sale via an attorney, ensure the POA was adjudicated at the Gurugram district registrar within 90 days of receipt in India.
Chartered Accountants protecting global NRI wealth and property exits
Partner-Led CA Oversight
CA Varundeep Gupta personally oversees your Form 13 Lower TDS applications, Form 15CB certifications, and capital gains structures, ensuring institutional cross-border precision.
Deep Gurgaon Real Estate Depth
Extensive experience managing property sales, circle rate reconciliations, and tehsil registrations across DLF Phase 1-5, Golf Course Road, Sohna Road, and Dwarka Expressway.
100% Digital Remote Execution
Complete remote handling: you do not need to travel to India. We manage Form 13 on TRACES, Form 15CA/CB, bank remittances, and ITR filings digitally.
Complete cross-border tax, wealth, and property advisory.
Sell your Gurgaon property with zero excess TDS and seamless foreign wire.
Schedule a 30-minute consultation with CA Varundeep Gupta to plan your Section 197 Lower TDS Certificate (Form 13), Section 54 capital gains strategy, and Form 15CA/15CB outward remittance.
NRI Taxation in Gurgaon: CA-Led Property Sales, Section 195 TDS & 15CA/CB Repatriation
Gurgaon stands as one of India's premier luxury real estate and investment destinations for Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) residing across the United States, United Kingdom, UAE, Canada, Singapore, and Australia. Over the past two decades, NRIs have invested heavily in residential and commercial properties across DLF Phase 1-5, Golf Course Road, Golf Course Extension Road, Sohna Road, and Dwarka Expressway. However, when an NRI decides to sell property in India, liquidate assets, or repatriate rental income, they encounter an intricate web of statutory tax withholding and exchange control regulations.
Under Indian direct tax laws, an NRI selling property in India is subject to mandatory withholding tax under Section 195, where the resident buyer is legally required to deduct TDS at 20% (plus surcharge and cess) on the total gross sale consideration unless an official Lower / Nil TDS Certificate under Section 197 (Form 13) is obtained from the International Taxation Ward. Furthermore, repatriating the net sale proceeds abroad requires compliance with the Foreign Exchange Management Act (FEMA), the RBI USD 1 Million remittance scheme, and statutory certification in Form 15CA and Form 15CB by a practicing Chartered Accountant.
GVC Audit (Gupta Varundeep & Co.) is a premier Chartered Accountant firm located in Sushant Lok-1, Sector 43, Gurugram. We provide comprehensive, partner-led NRI taxation and property advisory services: Section 197 Lower TDS Certificate processing, Section 54/54EC/54F capital gains rollovers, Form 15CA/15CB foreign remittances, Double Tax Avoidance Agreement (DTAA) treaty relief, Section 6 residential status planning, and Returning NRI (RNOR) tax shelters across Delhi NCR.
Section 195 vs Section 194-IA: The Withholding Tax Dilemma
A critical source of confusion for property buyers and sellers in Gurgaon is the fundamental difference between purchasing property from a resident Indian versus a Non-Resident Indian:
| Transaction Dimension | Buying from a Resident Seller (Section 194-IA) | Buying from an NRI Seller (Section 195) |
|---|---|---|
| Withholding Tax Rate | Flat 1.00% TDS on total sale consideration or circle rate value. | 20% Base + Surcharge + Cess (Effective rate between 20.80% and 23.92%). |
| Tax Calculation Base | Calculated on the total sale value without any expense or capital deductions. | Calculated on the total gross sale value unless a Section 197 certificate is presented. |
| Buyer TAN Requirement | Buyer does not need a TAN; deposits TDS using Form 26QB with their own PAN. | Buyer MUST obtain a Tax Deduction Account Number (TAN) and file Form 27Q. |
| Lower TDS Certificate | Not applicable for Section 194-IA transactions. | Form 13 Certificate under Section 197 allows TDS to be deducted strictly on net capital gains. |
Harmonized 12.50% Capital Gains Tax & Section 54 Rollovers
Under the direct tax framework, the taxation of capital gains arising from the transfer of immovable property held for more than 24 months (Long-Term Capital Asset) is structured as follows:
- Harmonized 12.50% LTCG Rate: Long-term capital gains on immovable property are taxed at a flat rate of 12.50% without indexation benefits (with transitional options for properties acquired prior to 23 July 2024).
- Section 54 Residential Rollover: 100% exemption from capital gains tax if the net capital gain is reinvested into purchasing another residential house in India (within 1 year before or 2 years after sale) or constructing one (within 3 years), capped at ₹10 Crore.
- Section 54EC Infrastructure Bonds: Investing capital gains into notified bonds (REC, NHAI, PFC, IRFC) within 6 months of the sale date, capped at ₹50 Lakh per financial year with a 5-year lock-in period.
- Capital Gains Account Scheme (CGAS): If the capital gain is not fully deployed before the ITR filing due date under Section 139(1), funds must be deposited into an authorized CGAS Type A or Type B account with a public sector bank to claim Section 54 exemption.
FEMA & RBI Outward Remittance Rules: The USD 1 Million Scheme
Under the Reserve Bank of India (RBI) Foreign Exchange Management (Remittance of Assets) Regulations, an NRI / OCI is permitted to repatriate up to USD 1,00,000 (USD 1 Million) per financial year out of balances held in their Non-Resident Ordinary (NRO) bank account, representing:
- Sale proceeds of immovable property acquired out of rupee funds, foreign remittances, or inherited from ancestors.
- Current income including commercial rent, residential rent, dividends, and interest on NRO deposits.
- Inherited assets, balances under wills, and settlement proceeds of family estates in Gurgaon.
The Form 15CA and Form 15CB Certification Process
| Compliance Document | Statutory Purpose | Issuing Authority & Requirements |
|---|---|---|
| Form 15CB | Independent Chartered Accountant certificate certifying that tax has been appropriately paid or deducted under Section 195, and confirming DTAA treaty eligibility. | Certified by a practicing Chartered Accountant with a unique Document Identification Number (UDIN). |
| Form 15CA (Part C) | Electronic remitter declaration filed on the Income Tax e-filing portal acknowledging the CA certificate in Form 15CB. | Submitted online by the NRI taxpayer; generated acknowledgment copy is delivered to the Authorized Dealer bank. |
| Form A2 & FEMA Declaration | Foreign exchange application submitted to the Authorized Dealer (AD Category-I) bank requesting outward telegraphic wire transfer. | Executed with the remitting bank alongside copy of sale deed, source proofs, and tax paid challans. |
Section 6 Residential Status & Returning NRI (RNOR) Tax Shelters
Determining your exact residential status under Section 6 of the Income-tax Act is the fundamental starting point for all cross-border tax planning:
- Non-Resident (NR): Taxed strictly on income that is received, accrues, or arises in India. Global income earned outside India (US salary, Gulf business profit, overseas dividends) is completely exempt from Indian taxation.
- Deemed Resident under Section 6(1A): An Indian citizen having total income (other than foreign income) exceeding ₹15 Lakh during the financial year is deemed an Indian resident if they are not liable to tax in any other country by reason of domicile or residence (affecting UAE/GCC NRIs). However, they are classified as RNOR, protecting their foreign income from Indian tax.
- Resident but Not Ordinarily Resident (RNOR) Shelter: When an NRI permanently returns to India after living abroad, they qualify for RNOR status for 1 to 3 consecutive financial years if they were an NRI in 9 out of 10 preceding years, or stayed in India for ≤ 729 days in the 7 preceding years. During the RNOR period, their foreign income, foreign interest, and foreign dividends remain 100% tax-free in India.
NRE, NRO & FCNR Banking Compliance Rules
Under FEMA guidelines, maintaining a resident savings bank account after acquiring NRI status is illegal and carries monetary penalties. NRIs must operate designated accounts:
- NRE (Non-Resident External) Account: Maintained in Indian Rupees; funds are 100% freely repatriable abroad; interest earned is 100% tax-exempt in India under Section 10(4)(ii).
- NRO (Non-Resident Ordinary) Account: Used to receive legitimate rupee income in India (rent, local dividends, property sale proceeds); interest earned is taxable in India at 30% (+ surcharge and cess), which can be reduced to 10% to 15% under applicable DTAA double tax treaties.
- FCNR (Foreign Currency Non-Resident) Account: Term deposit maintained in foreign currencies (USD, GBP, EUR) with zero foreign exchange currency risk; interest earned is 100% tax-free in India for NRIs.
How GVC Audit Delivers Total NRI Taxation Excellence
1. Section 197 Form 13 Lower TDS Processing
We compute your net capital gains, apply Section 54/54EC deductions, file Form 13 on TRACES, and secure the Lower/Nil TDS certificate from the International Taxation Ward before your registry date.
2. Form 15CA & Form 15CB Foreign Repatriation
We audit the source of funds, issue the Chartered Accountant Form 15CB certificate, submit the Form 15CA declaration, and coordinate directly with your bank to execute the outward foreign wire.
3. DTAA Treaty Relief & Foreign Tax Credit (Form 67)
We claim double taxation relief using Tax Residency Certificates (TRC) and Form 10F, and file Form 67 on the income tax portal to ensure Indian taxes are fully credited on your IRS Form 1040 or HMRC returns.
4. 100% Remote Digital Execution
You do not need to travel to India. We manage your complete property tax planning, Lower TDS certificates, foreign bank remittances, and annual NRI Income Tax Returns (ITR-2/ITR-3) securely and digitally.
Frequently Asked Questions: NRI Taxation in Gurgaon
Why is TDS on property sale by an NRI deducted at 20% instead of 1%?
When a resident seller sells property, 1% TDS applies under Section 194-IA. However, when an NRI sells immovable property in India, withholding tax is governed by Section 195, which mandates the buyer to deduct TDS at 20% (plus surcharge and cess) on the gross sale value unless the NRI seller obtains a Section 197 Lower / Nil TDS Certificate from the Income Tax Department.
What is a Section 197 Lower TDS Certificate (Form 13) and when should it be applied for?
A Section 197 Certificate is an official digital order issued by the International Taxation Assessing Officer directing the buyer to deduct TDS at a lower rate (or NIL rate) calculated strictly on the net capital gains after factoring acquisition cost and Section 54 reinvestments. It should be applied for online in Form 13 on TRACES at least 30 to 45 days before the property registry date.
What is Form 15CB and when is it required for foreign remittances?
Form 15CB is a statutory certificate issued by a practicing Chartered Accountant confirming that appropriate taxes have been paid or deducted on funds being remitted abroad under Section 195 and DTAA rules. It is required by Authorized Dealer banks before executing outward foreign remittances exceeding ₹5 Lakh from an NRO account.
How much money can an NRI repatriate abroad from India every year?
Under the RBI Liberalized Remittance / NRO scheme, an NRI can repatriate up to USD 1,000,000 (USD 1 Million) per financial year (April to March) from their NRO account balances, representing property sale proceeds, rental income, dividends, and inherited estate assets, backed by Form 15CA and Form 15CB.
What is the capital gains tax rate on the sale of immovable property by an NRI?
Long-Term Capital Gains (property held for more than 24 months) are taxed at a flat rate of 12.50% without indexation (with transitional options for properties acquired prior to 23 July 2024). Short-Term Capital Gains (property held for 24 months or less) are taxed at applicable individual income tax slab rates.
Can an NRI claim Section 54 exemption by investing in two residential houses?
Yes. If the long-term capital gain arising from the sale of a residential house does not exceed ₹2 Crore, the taxpayer can exercise a once-in-a-lifetime option to reinvest the capital gains across two residential houses in India under Section 54. The overall Section 54 exemption is capped at ₹10 Crore.
What is the difference between NRE and NRO bank accounts for tax purposes?
An NRE (Non-Resident External) account is used to remit foreign earnings into India; funds are 100% freely repatriable, and interest earned is 100% tax-free in India under Section 10(4)(ii). An NRO (Non-Resident Ordinary) account is used to receive income originating in India (rent, dividends, property sale); interest earned is taxable at 30% (+ surcharge/cess), which can be reduced under DTAA treaty rates.
What is Resident but Not Ordinarily Resident (RNOR) status?
RNOR is a transitional tax residency status under Section 6(6) available to returning NRIs for 1 to 3 financial years after moving back to India. During the RNOR period, all foreign-sourced income (foreign salary, foreign interest, foreign dividends, overseas rental income) remains 100% exempt from Indian income tax.
How does DTAA (Double Tax Avoidance Agreement) protect NRIs from paying tax twice?
Under Section 90 of the Income-tax Act, DTAA treaties between India and foreign countries (US, UK, UAE, Canada, Singapore, Australia) ensure that income taxed in India is credited against tax liabilities in your country of residence via Foreign Tax Credit (FTC), preventing double taxation. Taxpayers must furnish a Tax Residency Certificate (TRC) and Form 10F.
Is there any inheritance tax in India when an NRI inherits ancestral property in Gurgaon?
No. India does NOT levy any inheritance tax or estate duty on property transferred through inheritance or wills. The receipt of inherited property is 100% tax-free. Income tax triggers only when the inherited property is subsequently sold, where the cost of acquisition is calculated from the original purchase price paid by the previous owner.
Does an NRI need to visit India in person to sell property and file tax certificates?
No. GVC Audit executes the entire process remotely. We file Section 197 Form 13 applications, manage TRACES approvals, issue Form 15CB certifications, and submit Form 15CA filings digitally. The property registry can be executed through an adjudicated Power of Attorney (POA) holder in Gurgaon.
Do you provide NRI taxation services for clients living outside India?
Yes. GVC Audit is based in Sushant Lok-1, Sector 43, Gurugram, and we deliver complete NRI taxation, property sale withholding, Form 15CA/CB repatriation, and DTAA treaty compliance for clients residing in the US, UK, UAE, Canada, Singapore, Australia, and worldwide through secure digital consultations.
Chartered Accountants & NRI Taxation Specialists in Gurgaon
Visit our Sushant Lok office or connect via secure digital consultation for an in-depth review of your property sale, Form 13, and cross-border repatriation.
Gupta Varundeep & Co.
ICAI Certified Chartered Accountants
- AddressH-312, Sushant Shopping Arcade, near Huda Metro Station, Sushant Lok Phase I, Sector 43, Gurugram, Haryana 122009
- Phone+91 97173 55517
- Emailvarun@gvcaudit.com
- Office HoursMonday to Saturday, 10:00 AM to 7:00 PM