Tds u/s 195 for purchase of immovable property from nri

TDS 658 views 1 replies

Greetings!

I am in the process of purchasing an apartment from a couple, who jointly own the property at an equal 50%-50% share: the Husband is an NRI and the Wife is a Resident Indian. The total Sale Consideration exceeds INR 50 Lakhs.

The Sale Agreement was drawn up on 31 January 2013: so as I understand that as per the provisions of Section 194-1A, TDS of 1% on the Total Sale Condieration is not applicable.

However, I understand that for the Husband (50% shareholder of the property being an NRI), TDS @ 20% + EC + SHEC would be applicable U/S 195.

My queries:

1. Would the TDS be applicable only on the Husband's share or on the total Sale Consideration? (In the Deed of Conveyance, the Wife's name comes first, followed by the Husband's name).

2. Can I deposit the TDS Online? If yes, how?

3. When do I receive an acknowledgement for the TDS so deposited so that I can furnish the same to the Sellers?

Regards

 

 

Replies (1)

For the section of 194IA, date of agreement is not to be seen. What is to be seen is the date of payments.

For all the payments after 1.07.2013, TDS need to be deducted.

 

for further queries :https://knowyourtaxation.blogspot.in/


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register