NRI Client is selling house property in india, out of which he incurred long term capital loss asset is long term asset, here TDS as per 195 is applicable, even though LONG TERM CAPITAL LOSS, please clarify , urgent
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193718 Points)
Replied 20 November 2018
Yes, Correct; unless lower/nil TDS deduction certificate u/s. 197 of the act, is obtained by either of the party from IT authority
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 20 November 2018
Yes, TDS would be Deducted by the payer because TDS is not subject to Gain/Loss but it is something which works according to the payment made.
Also, you could apply for Certificate u/s 197 from your Jurisdictional AO for Lower Deduction of TDS and then just provide this certificate to your Payer and then he would deduct TDS accordingly.
Also, you could apply for Certificate u/s 197 from your Jurisdictional AO for Lower Deduction of TDS and then just provide this certificate to your Payer and then he would deduct TDS accordingly.
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