The buyer has purchased a property for which Section 194IA applies. The documents of sale are signed by the power of attorney holders of the seller. Tax deducted u/s 194IA is to be credited against whose PAN. The power holders or the seller?
K.Srividhya (Articled assistant) (43 Points)
09 January 2016The buyer has purchased a property for which Section 194IA applies. The documents of sale are signed by the power of attorney holders of the seller. Tax deducted u/s 194IA is to be credited against whose PAN. The power holders or the seller?
Shyam C.Pujara
(Student (C.A Final))
(177 Points)
Replied 09 January 2016
Dear K. Shrividhya,
I my opinion the TDS u/s 194 IA should be credited against the PAN of seller as it is the seller who is the real owner of the property and to whome capital gain tax would be applicable (If any). Power of attorney can be issued for some pratical convinence but the party to the contract will be the seller only.. hope this is clear
Mark
(Advertisement)
(31 Points)
Replied 09 January 2016
K.Srividhya
(Articled assistant)
(43 Points)
Replied 11 January 2016
Thank you sir. Will it change based on the terms in power of attorney?
Shyam C.Pujara
(Student (C.A Final))
(177 Points)
Replied 11 January 2016
| Originally posted by : K.Srividhya | ||
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Thank you sir. Will it change based on the terms in power of attorney? |
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Hi...
Sorry i didint what u said. but ultimately the seller is the real owner so tds should be deducted in his PAN only...
CAclubindia
