Tds u/s 194 ia
This query is : Resolved
08 January 2015
My client purchased flat for more than 50 lacs.
Pl suggest.....
1) Is there any rate of change in TDS if the buyer is NRI.
2)If Flat is purchased in the name of both my client and her father.
But all the amount of sale consideration is made by my client, none is paid from her father's account.
Should I deduct TDS from PAN of both buyers?
09 January 2015
1.For NRI TDS applicable u/s 195 higher TDS applicable.
2. Yes TDS deduction should be shown from both buyers.
2. Yes TDS deduction should be shown from both buyers.
09 January 2015
1. To NRI buyer,section 194 IA applies meaning thereby, tax rate is 1%.
2. TDS should be made in the PAN of SELLER. But in form 26QB ,select 'YES' against the clause "Whether more than one Transferee/Buyer".
2. TDS should be made in the PAN of SELLER. But in form 26QB ,select 'YES' against the clause "Whether more than one Transferee/Buyer".
09 January 2015
I agree with the above reply of Mr. Chakrapani Warrier.
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