Tds on immovable property
This query is : Resolved
27 August 2013
IS TDS ON IMMOVABLE PROPERTY IS APPLICABLE TO NRI PERSON AND HE LIABLE TO DEDUCT TDS OF SALLER OR NOT
IS TDS ON IMMOVABLE PROPERTY IS APPLICABLE TO NRI PERSON AND HE LIABLE TO DEDUCT TDS OF SALLER OR NOT
27 August 2013
An NRI purchasing an immovable property has to deduct income tax from the payment to the seller as per the provisions of section 194IA.
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27 August 2013
why give reason
29 August 2013
Section 194-IA starts with the word "ANY PERSON responsible for paying to a resident transferor......"
There are 2 conditions here:
1. Transferor must be a RESIDENT.
2. Transferee (Buyer) can be any person. Any person includes non-resident also.
Accordingly if a non-resident purchases property from a resident he is required to deduct TDS u/s 194-IA.
There are 2 conditions here:
1. Transferor must be a RESIDENT.
2. Transferee (Buyer) can be any person. Any person includes non-resident also.
Accordingly if a non-resident purchases property from a resident he is required to deduct TDS u/s 194-IA.
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