Tds amount, on purchase of property from nri
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 April 2016
I purcase a property from NRI in october-2014 on Rs. 1.50 crore and not deducted tds. I Paid Rs. 3.50 lakh as first instalment in the month of oct-14 and second instalment of Rs. 1.45 crore paid in april 2016.
As per section 194LA tds deposition time is payment of each installment and as per section 195 tds should be deducted on payment made to NRI .
So please guide me abount tds liability, tds interest and penalty.
As per section 194LA tds deposition time is payment of each installment and as per section 195 tds should be deducted on payment made to NRI .
So please guide me abount tds liability, tds interest and penalty.
20 April 2016
In your case TDS applicable u/s 195. So work out the capital gain and deduct full tax and remit it on or before 7th May 2016 so that No interest is payable.
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