Tds on immovable property

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2013
Sir
as per the subject if the NRI Purchase the Flat in India the flat value above 50 lac . So how he can cutting the tds & give the tds certificate to builder because NRI don't have the any Indian Pan Card.

19 July 2013 But nri do have GRN no. instead of pan.

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2013 Sir
please tell what is the meaning of GRN No. so i can understand & all tell the details process of cutting tds of NRI on Property Purchase in India

19 July 2013 PANo is mandatory for this purpose. Ref:- Form 26QB.

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2013 sir what can do if nri dont have pan no can he apply for pan no india for purchasing flat from india or any other ways

19 July 2013 Usually NRI doesnt have PAN of india so GRN no is valid and can be used by BRI.

19 July 2013 Tushar Ji

No. With out PANo it is not possible to remit the tax using form 26QB.

@ questioner

Please apply and obtain PANo. No other alternative.

19 July 2013 ok sir but incase nri doesnt have then do they need to get it for the purpose of tds?

what if there is a delay on part of dept to issue pan to nri's after valid application made to dept?

is penalty and int for delay in filling tds return or paying tds applicable?

waiting for your reply warrier sir.

19 July 2013 Sampath Ji
No tds return required in this case. Form 26QB is a return cum challan which will suffice.

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2013 Sir
just i ask one ca he tell if builder pan no. is available so no need the pan no of NRI.we can pay the tds on Builders Pan No.

19 July 2013 ok even in form 26QB we need to quote pan then my question above which are asked still remains valid? pls answer sir.


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