NRI investments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 June 2011
An NRI has purchased a property from his NRI (E) Account
Now he is selling the property to resident individual.
Whether he can deposit the amount in NRO account
A resident Indian has to deduct tax on payment to NRI
Now if he does not have TAN no, what are the implications?
What is the procedure for obtaining certificate from ITO for non deduction of Income tax?
Any benefit u/s 54 of the IT Act for NRI?
Now he is selling the property to resident individual.
Whether he can deposit the amount in NRO account
A resident Indian has to deduct tax on payment to NRI
Now if he does not have TAN no, what are the implications?
What is the procedure for obtaining certificate from ITO for non deduction of Income tax?
Any benefit u/s 54 of the IT Act for NRI?
23 June 2011
An NRI has purchased a property from his NRI (E) Account
Now he is selling the property to resident individual.
Whether he can deposit the amount in NRO account
He can deposit the amount in NRO account only.
Now he is selling the property to resident individual.
Whether he can deposit the amount in NRO account
He can deposit the amount in NRO account only.
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23 June 2011
Q -A resident Indian has to deduct tax on payment to NRI
Reply - A resident is not required to deduct tax on property transaction.
Q- Now if he does not have TAN no, what are the implications?
Reply- As no need to deduct tax - TAN is not required.
Reply - A resident is not required to deduct tax on property transaction.
Q- Now if he does not have TAN no, what are the implications?
Reply- As no need to deduct tax - TAN is not required.
23 June 2011
Q -What is the procedure for obtaining certificate from ITO for non deduction of Income tax?
Reply- TDS not required hence Not Applicable.
Reply- TDS not required hence Not Applicable.
23 June 2011
Q -Any benefit u/s 54 of the IT Act for NRI?
*
Reply - Benefit available to an Individual irrespective of his residential status
U/s 54 to the extent of amount of capital gains invested in purchase of a new residential house.
*
Reply - Benefit available to an Individual irrespective of his residential status
U/s 54 to the extent of amount of capital gains invested in purchase of a new residential house.
22 August 2011
Q -A resident Indian has to deduct tax on payment to NRI
Reply - A resident is REQUIRED to deduct tax on property purchase transaction u/s 195 which doesn't provide any exemption to individuals.
Q- Now if he does not have TAN no, what are the implications?
Reply- TAN shall be required. Without that TDS deduction , TDS deposit and TDS return filing can't be done.
Anuj
+91-9810106211
femaquery@gmail.com
Reply - A resident is REQUIRED to deduct tax on property purchase transaction u/s 195 which doesn't provide any exemption to individuals.
Q- Now if he does not have TAN no, what are the implications?
Reply- TAN shall be required. Without that TDS deduction , TDS deposit and TDS return filing can't be done.
Anuj
+91-9810106211
femaquery@gmail.com
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22 August 2011
Q -What is the procedure for obtaining certificate from ITO for non deduction of Income tax?
Reply- Detailed procedure provided in section 195.
Q -Any benefit u/s 54 of the IT Act for NRI?
Reply - Benefit available to an Individual irrespective of his residential status
U/s 54 to the extent of amount of capital gains invested in purchase of a new residential house in INDIA and NOT OUTSIDE INDIA.
Anuj
+91-9810106211
femaquery@gmail.com
Reply- Detailed procedure provided in section 195.
Q -Any benefit u/s 54 of the IT Act for NRI?
Reply - Benefit available to an Individual irrespective of his residential status
U/s 54 to the extent of amount of capital gains invested in purchase of a new residential house in INDIA and NOT OUTSIDE INDIA.
Anuj
+91-9810106211
femaquery@gmail.com
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