Tds on land purchased from nri
This query is : Resolved
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
CA MANOJ GUPTA
(Expert)
27 August 2011
u have to deduct tax at source under section 195
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
1 times
29 August 2011
Sir Pls also mention rate at which it needs to be deducted together with section.
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
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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