I am selling my Flat to a Non-resident. So, as per provisions of 194ia, He needs to deduct TDS @ 1% on sales consideration, which he agreed to do. Now while making payment the Form asks for PAN of Non-resident which he doesn't have and without PAN of buyer the payment can't be made. The non-resident is not willing to have PAN in India.
Is there any way out for this??
It is mandatory to provide PAN for the buyer and seller. I do not think there is any other option as this provision has been brought in to reduce black money transaction.
Regards
Vineet
www.financeandtaxhub.blogspot.com
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