Tdson purchase of immovable property from nri
This query is : Resolved
Sachin Malviya
(Querist)
02 April 2018
I am purchasing property from NRI in financial year 2018-19 in 72 lakh , property purchased by seller in year 09-07-2009 at rs 3512000, seller hold PAN card of india, now i wanna know my tax liability being a buyer wheather i ll
go for section 195 and certifiacate from assessing officer required, or He had hold PAn card of india so tax liability will cover only 1% TDS
kindly rply
thanx regards
go for section 195 and certifiacate from assessing officer required, or He had hold PAn card of india so tax liability will cover only 1% TDS
kindly rply
thanx regards
K Srinivas, CMA CS
(Expert)
02 April 2018
I understand that the seller is a Non resident as per the IT Act. Therefore, Sec 195 will be attracted even though the seller has a PAN card in India
02 April 2018
Buyer need not deduct 1% tax.
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