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Tds on land purchased from nri

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(Querist)
26 August 2011 My clint has purchased a land(Commercial) from an Nri. Nri has gained 20 crores. does any liability get attracted of my clint to deduct Tds brfore making payments to Nri.Pls reply soon
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
27 August 2011 u have to deduct tax at source under section 195

CA MANOJ GUPTA
JODHPUR
09828510543
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suman

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suman (Querist)
29 August 2011 Sir Pls also mention rate at which it needs to be deducted together with section.
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
30 August 2011 I beleive that it is the LTCG then rate of deduction is 20.6 percent
Tax is to be deducted under section 195
U can file application under section 195(2) before Ao for rate and ampunt on which tax is to be deducted because entire sum recd by NRI is not LTCG
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