Tds implication for purchase of property by non resident
This query is : Resolved
21 May 2016
Non-Resident is purchasing property in India from Resident individual.
Non-Resident is not having PAN card in India is TDS applicable U/s.194IA.?
Non-Resident is not having PAN card in India is TDS applicable U/s.194IA.?
21 May 2016
Yes, 194IA is applicable if Buyer is NRI and seller is Resident and property value is equal or more than Rs 50 Lakhs. Only in the case of NRI seller it is not applicable.
PAN is also required for this case.
Hopefully following articles may be helpful :
http://taxguru.in/income-tax/notices-related-tds-immovable-property-purchase.html
https://www.caclubindia.com/articles/understanding-tds-on-purchase-of-immovable-property--26698.asp
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
PAN is also required for this case.
Hopefully following articles may be helpful :
http://taxguru.in/income-tax/notices-related-tds-immovable-property-purchase.html
https://www.caclubindia.com/articles/understanding-tds-on-purchase-of-immovable-property--26698.asp
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
Message likes :
3 times
21 May 2016
But buyer is NRI and not having PAN No in India
21 May 2016
Than he should apply for PAN before any doing transaction in this case.
Message likes :
2 times
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