Purchase of immovale property from nri
This query is : Resolved
02 September 2016
Dear Expert,
A resident individual who is a salaried employee has purchased residential house from NRI. He had deposited sale consideration in NRI's NRO account maintained in India. My question his do he need to deduct TDS U/s 195 on the sale consideration paid to NRI? Buyer is a salaried employee and do not have any TAN.
A resident individual who is a salaried employee has purchased residential house from NRI. He had deposited sale consideration in NRI's NRO account maintained in India. My question his do he need to deduct TDS U/s 195 on the sale consideration paid to NRI? Buyer is a salaried employee and do not have any TAN.
02 September 2016
yes, section 195 comes into play.
02 September 2016
Buyer has to deduct full tax on capital gain on this sale u/s 195. No excuse of not having TAN.
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