TDS on purchase of Property above Rs.50 lacs..
If recipient is Non-Resident, is TDS provisions applicable or not??..
I hv read every where I'm getting TDS to be deducted on resident only..
Menu
TDS on purchase of Property from Non Resident
Replies (5)
in case of purchase of property from non resident section 195 will apply and TDS has to be made @ 30.9%
it means do buyer have to deduct TDS at 30.9% n pay to govt.
yes, the buyer needs to obtain tax deduction account number, deduct 30.9% of the sale consideration and pay it ot the government within 7th of the next month. quarterly TDS return also should be filed.
If the immovable property is purchased from a Non-Resident Indian (NRI) then TDS has to be done U/s 195 (TDS Rate is at 20%+Education Cess) and not under section 194IA.
Sandeep Ji 30% TDS rate is wrong.
.
vishal goel is right. 20% + Cess applies
Related Threads
CAclubindia
