Interest on tds on purchase of property from nri
This query is : Resolved
06 February 2014
My client have purchased a property from an NRI on 14-02-2011 and didn't know about the applicability of TDS on such. On 06-02-2014, he wants to deduct TDS. What shall be the rate? Shall interest attract on non payment?
If interest shall apply, shall it be 1.5% per month for 25 months?
If interest shall apply, shall it be 1.5% per month for 25 months?
06 February 2014
The TDS rate shall depend on the DTAA..
since you have not deducted the TDS yet, the rate of interest shall be 1% per month.
since you have not deducted the TDS yet, the rate of interest shall be 1% per month.
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