Sec 194I of Income Tax
This query is : Resolved
K. B. Srinivas
(Querist)
12 March 2009
One of my clients has taken a rental property for residential purpose in India. The rent is to be deposited in a bank account maintained by the owner of the house in India. The owner is a NRI and does not have a PAN. My client has to deduct TDS. How to go about? The owner argues that, being a NRI not assesseble to tax and no need to deduct TDS on rent. Need expert advice.
CA Tilak Raj Sharma
(Expert)
12 March 2009
194I - PERSON RESPONSIBLE FOR TAX DEDUCTION - Any person (not being an individual or a HUF) responsible for paying rent to a resident is required to deduct TDS under the provisions of section 194-I.
CA Tilak Raj Sharma
(Expert)
12 March 2009
So your client do not require to deduct TDS.
M KRISHNAKUMAR
(Expert)
16 March 2009
I am of the opinion that sec 195 will attract in this case. Tax will have to be deducted @30%
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