My assesses buying property from an NRI is he liable to deduct tax u/s 194 IA...??
NRI doesn't hve any PAN in India in this case what is the procedure to deal with it.....??
Menu
NRI Selling property in India
Replies (6)
No. He is liable to deduct TDS u/s. 195 of IT act.
Seller needs to obtain PAN as he is required to file ITR for capital gain assessment.
PAN is a must for the NRI seller. It's easy to apply and also ask seller to open an Indian Bank Account for.
Thanku so much Sir...🙏
You are welcome. ...
Also, in case of lower deduction,please not that the officer only prescribes the tax rate. Surcharge rate and cess shall be additional.
Obviously it's applicable pan is based in India. property situated in India . tax is liable to be paid on property situated in India when there is a transfer of capital asset.
Sec 195 of income tax act is applicable.
Sec 195 of income tax act is applicable.
Recent Threads
- Consortium Partnership: GST and TDS query
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
Related Threads
CAclubindia
