TAX DEDUCTION AT SOURCE ON PURCHASE OF A PROPERTY THROUGH FOREGN BANK AUCTION

This query is : Resolved

RAGHAVA REDDY (Querist)
Follow

16 June 2025 I have purchased a residential property through a foreign bank auction( NPA)SARFAESI Act.
I have not deducted TDS % and paid full amount to the bank . I have requestd the bank to refund the TDS amount to deposit to the Income tax department. The foreign bank is saying that they have an exemptions certificate U/S 195(3) of IT Act and they have given the certificate. I understood that the 195(3) is for NRIs. Here the original owner is resident indian. Kindly advice

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

17 June 2025 The person receiving the payment is a foreign bank, non resident and having 195(3) certificate. You can depend on the certificate and no need to deduct TDS.

Message likes : 1 times

RAGHAVA REDDY

RAGHAVA REDDY (Querist)
Follow

23 June 2025 Thank you very much sir

RAGHAVA REDDY

RAGHAVA REDDY (Querist)
Follow

23 June 2025 Dear CA Seetharaman sir, Can I get your email ID/ Phone Number please? my email is reddymrr@gmail.com.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 June 2025 You are welcome.
rseeraman@gmail.com
9443357248

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now