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Sec.195 tds - payment to nri

TDS 400 views 1 replies

Sir,

A Property is about to be purchased from a relative of NRI, the NRI has given a general power to his relative, to act on behalf of him and make the transaction. The Buyer is a individual, not subject to Tax Audit in the previous year.

I have a doubt whether TDS u/s 195 @ 20.6% is to be deducted on payment made to the relative of NRI ? 

(Note: Buyer does not have any TAN Number, the transaction is about to be entered) 

Thanks for any replies.

 

Replies (1)

I Think no required to deduct TDS @ 20.60 % 

It is subject to 1% TDS and in this cae no need TAN number, because TDS will deposied by 26QB and PAN number of both party.


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