Tds on property purchase from nri
This query is : Open
12 October 2012
Dear All,
Can anyone give their opinion on the following isssu.
Fact:
MR.A(individual) resident of INDIA wants to purchase a house property for Rs.25 lac situated in pune, india from MR.X(Individual) a non resident.
Mr.X is the person of indian origin had purchased the said house for Rs.10 lac in 2005 through his authorise representative MR.Y to whom Mr.X has given power of attorney.
Queries:
A) Whether Mr.A has to deduct TDS U/s 195 from payment made to Mr.X? If yes on which amount Rs.25 Lac or on capital gain? and at what rate?
B) If Mr.A makes the payment to Mr.P to whom Mr.X has given power of attorney to execuate the sale transaction-
Whether Mr.A has to deduct TDS U/s 195 from payment made to Mr.P? If yes on which amount Rs.25 Lac or on capital gain? and at what rate?
Can anyone give their opinion on the following isssu.
Fact:
MR.A(individual) resident of INDIA wants to purchase a house property for Rs.25 lac situated in pune, india from MR.X(Individual) a non resident.
Mr.X is the person of indian origin had purchased the said house for Rs.10 lac in 2005 through his authorise representative MR.Y to whom Mr.X has given power of attorney.
Queries:
A) Whether Mr.A has to deduct TDS U/s 195 from payment made to Mr.X? If yes on which amount Rs.25 Lac or on capital gain? and at what rate?
B) If Mr.A makes the payment to Mr.P to whom Mr.X has given power of attorney to execuate the sale transaction-
Whether Mr.A has to deduct TDS U/s 195 from payment made to Mr.P? If yes on which amount Rs.25 Lac or on capital gain? and at what rate?
14 October 2012
TAX WILL B DEDUCTED U/S 195 ON THE AMT OF PURCHASE PRICE ELSE U WILL HAVE TO MAKE APPLICATION TO AO UNDER SECTION 195(2) FOR ORDER AS TO ON WHICH AMT TAX SHALL BE DEDUCTED
CA MANOJ GUPTA
JODHUR
09828510543
CA MANOJ GUPTA
JODHUR
09828510543
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