Indian resident buying immovable property from an NRI. As per section 195, TDS only on amounts chargeable to tax under this Act. In the given case there is no capital gains. Is TDS and TAN compulsory?
vidya kini (CA Practice ) (107 Points)
30 October 2014Indian resident buying immovable property from an NRI. As per section 195, TDS only on amounts chargeable to tax under this Act. In the given case there is no capital gains. Is TDS and TAN compulsory?
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 30 October 2014
TDS provisions u/s.194IA will attract only in cases where payments made to Resident. Hence no need to deduct T.D.S, hence no need to obtain TAN
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