Tds deduction under sec 195

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2016 If a person is buying a house property from a non resident in India he is liable to deduct TDS under sec 195. My query is whether the deductor should apply for the TAN or is there any procedure where he can deduct TDS over his PAN number without applying for the TAN. If so please let me know the procedural aspects of it.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 January 2016 Buyer should obtain TAN under section 203A of the Income Tax Act, 1961 by applying online/offline by filing Form 49B.
Besides TAN, buyer should have own PAN and PAN of NRI Seller to deduct TDS under section 195.

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2016 but there is form 26QB which is for tds on sale of property so can we use that option as it doest not require any tan application

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 January 2016 26QB can't be used in the cited case.

Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2016 thank you sir. ur review was helpful understood that 26QB can ne used only in the case of sec 194IA thanks for your opinion

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