02 November 2016
Hi, i have one client who is nri recently sold a property situated in india and incurring loss after indexation.
If the nri sold any property situated in india then the transferee is supposed to deduct tds@20% but due to loss he wants low rate tds or nil tds.. Is there any way?
02 November 2016
As per section 197 of Income Tax Act,1961 payee has to make an application to the assessing officer for claiming lower deduction of tax at source. If AO allows lower tax rate then payer will deduct such lower tax by showing this certificate to payer.
CAclubindia
