08 December 2011
Dear Experts, Please suggest me if i have purchased a immovable property from a non resident and i am required to deduct TDS u/s 195 @ 20.60% on same transaction then on what amount, TDS is to be deducted,i mean to say whether TDS has to be deducted on total purchase consideration or on long term capital gain/short term capital gain as the case may be?
10 December 2011
tAX TO B DEDUCTED AT 20.6 IF LTCG IS THERE IF IT IS STCG THEN AT 30.9 U HAVE TO DEDUCT TAX ON SALE CONSIDERATION ELSE APPLY TO AO UNDER SECTION 195(2) WHO WILL DETERMINE THE AMT ON WHICH TAX IS TO B DEDUCTED
CAclubindia
