Lower TDS deduction Certificate_Buying Property from NRI
This query is : Resolved
01 October 2021
Hi,
We purchased a property from an NRI. He had applied for a lower TDS certificate - which he received on 29 Sept (with rate of 0.01%). The certificate reads that it is applicable for all the transactions from 29 Sept 2021 to 31 March 2022. We had made a payment to them in August as well as on 15 September 2021. Should the TDS be deducted at 0.01% or the applicable TDS rate.
We purchased a property from an NRI. He had applied for a lower TDS certificate - which he received on 29 Sept (with rate of 0.01%). The certificate reads that it is applicable for all the transactions from 29 Sept 2021 to 31 March 2022. We had made a payment to them in August as well as on 15 September 2021. Should the TDS be deducted at 0.01% or the applicable TDS rate.
CA R SEETHARAMAN
(Expert)
01 October 2021
As the payment made outside the date mentioned in the certificate TDS to be deducted at the applicable rate.
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