Tds on transfer of inmmovable property u/s 194ia

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sandip namdeo gadakh (Querist)
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03 March 2014 As per 194IA , any person , being a trasferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of any immovable property, deduct an amount equal to 1% lf such sum as income-tax thereon.
My client is local transferor transferred his immovable property to non-resident Indain (NRI) who doesn't have PAN. How TDS is deducted and paid by the transferee as per TDS provisions?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 March 2014 TDS is required to be deducted by the BUYER. The BUYER has to deduct TDS and deposit the same. There is NO liability on the seller.

Since in your case the client is the SELLER, he is NOT required to comply with the above provision.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 March 2014 yes in this case buyer needs to deduct tds under this section.

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sandip namdeo gadakh

sandip namdeo gadakh (Querist)
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05 March 2014 I know that in case of transfer of immovable property buyer has to deduct TDS. But in this case buyer is NRI and seller asked to us what to do by the buyer to deduct TDS as he is NRI having no PAN ? Please suggest us from buyer's point of view who is NRI?