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

This query is : Open

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