TAX DEDUCTION AT SOURCE ON PURCHASE OF A PROPERTY THROUGH FOREGN BANK AUCTION
This query is : Resolved
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
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
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.
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23 June 2025
Thank you very much sir
23 June 2025
Dear CA Seetharaman sir, Can I get your email ID/ Phone Number please? my email is reddymrr@gmail.com.
24 June 2025
You are welcome.
rseeraman@gmail.com
9443357248
rseeraman@gmail.com
9443357248
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