07 November 2015
Is there any Liability if a "Resident Pvt Ltd Company" or a "Resident Ltd Company" makes payment for purchase of land from Non resident (Any). Payment is made to non-resident for such purchase in A.Y.2010-11 and lade is recoreded in books in same year.
07 November 2015
Have gone through sec 195 and some of extracts of it says : any other sum payable shall be taxable at the rates in force.
As per my understanding : as there was no TDS /other tax liability on purchase of land in A.Y. 2010-11 there should no tax liability in said assessment year of 201-11 U/s 195.
CAclubindia
