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.
Amol S Joglekar
(Expert)
02 September 2016
yes, section 195 comes into play.
CA R SEETHARAMAN
(Expert)
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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