28 January 2016
In a sale deed of immovable property of Rs.60 lac there are 7 sellers .Out of this 2 sellers who have received Rs.15 lac and Rs.5 lac respectively are not having PAN and have submitted or likely to be submit Form 60 to the sub registrar office.Whether any client who is the purchaser of this property can avoid deduction of tax @ 1 % u/s 194IA of this two sellers or has to deduct tax @ 20% as they are not having PAN??
CAclubindia
