I am in the process of renting a flat from an NRI, the rent will be paid in their Indian NRO account and no lower deduction certificate has been issued by the landlord. I had some queries with regards to form 144 which has replaced 27Q:
- Is form 145/146 required as I will be transferring the rent to Indian NRO account? What if annual rent crosses 5 lakhs?
- Are TIN, Name, Address, contact details mandatory if the lanlord has an active PAN?
- If TIN is required, since the landlord is based out of Singapore TIN is not available, will NRIC number work?
- What should be the country of remittance be? India - because the rent is paid in Indian NRO account or the country of residence of landlord?
- Is field AB "Reason for non deduction/lower deduction/higher deduction" mandatory? The landlord has not furnished a lower deduction certificate. If it's mandatory what do I choose?
Looking forward to communities guidance on this.
Thanks!
CAclubindia
