vipin vishwakarma (audit manager) (33 Points)
21 February 2013a part payment has been made to a person who was non resident at that time against purchase of flat but i did not deduct the tds. But later he became resident of india by satisfying the 1st basic condition of section 6(1) i.e. residential status. So, Whether i should deduct tds or not. please explain in detail.
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 21 February 2013
Vipin, TDS NEED NOT TO BE DEDUCTED FOR PAYMENT MADE TO NON-RES ON PURCHASE OF FLAT.....IF U HAD MADE PAYT LIKE COMMISSSION, RENT,INTEREST THEN THERE MAY BE POINT OF TDS ...BUT HERE IN YOUR CASE NO NEED TO DEDUCT TAX AT SOURCE.
niranjan
(EXCISE OFFICER)
(54 Points)
Replied 21 February 2013
CAclubindia
