It for nri
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2013
Hi Experts,
A NRI remitted funds from abroad and also took a loan from a HFC in India, purchased a commercial property in FY-13 He is receiving monthly lease rents from Aug-12. For FY-13, the total rent received would be Rs.4.50 lakhs(approx) Till Feb-13,the lessee deducted TDS @ 10% while paying rent. I have a few queries.
1. What is the applicable TDS on lease rent paid to NRI -with PAN. If PAN is not there whether TDS rates will differ.
2 Whether the IT returns / tax slab etc are different for NRI compared with a resident Indian.
3. If the tax payable is lower than the TDS rates, whether NRI can approach A.O for orders for deducting lower tax rate by the lessee.
A NRI remitted funds from abroad and also took a loan from a HFC in India, purchased a commercial property in FY-13 He is receiving monthly lease rents from Aug-12. For FY-13, the total rent received would be Rs.4.50 lakhs(approx) Till Feb-13,the lessee deducted TDS @ 10% while paying rent. I have a few queries.
1. What is the applicable TDS on lease rent paid to NRI -with PAN. If PAN is not there whether TDS rates will differ.
2 Whether the IT returns / tax slab etc are different for NRI compared with a resident Indian.
3. If the tax payable is lower than the TDS rates, whether NRI can approach A.O for orders for deducting lower tax rate by the lessee.
CA. Anuj Gupta
(Expert)
26 May 2013
1. rate should be 30.9.%.
2.No... except for some special circumsatnces.
3.Yes....
Anuj
femaquery@gmail.com
2.No... except for some special circumsatnces.
3.Yes....
Anuj
femaquery@gmail.com
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