Tds on remittance of foreign exchange outside india
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2013
Individual residing outside india has sold his HP in india and he wants to remit all sale consideration outside india. Whether tax is deducted on remittance outside india ?
11 December 2013
the ans is no.
11 December 2013
He cannot remit all the proceeds without deduction of tax (as capital gain tax has to be paid and net amount can be transferred
However, in case the proceeds are to be invested in property in abroad benefit of exemption under section 54 can be availed and no tax is to be paid (but the amount has to be routed through special account capital gain account) Or assessee has to pay tax and then claim refund
However, in case the proceeds are to be invested in property in abroad benefit of exemption under section 54 can be availed and no tax is to be paid (but the amount has to be routed through special account capital gain account) Or assessee has to pay tax and then claim refund
11 December 2013
for remittance there is no tds to be deducted within sec 192-196D.
11 December 2013
if TDS is not deducted then tax has to be paid before remittance
11 December 2013
the querist have asked whether on remittance tds is applicable or not and the simple ans is no.
11 December 2013
dear
how one can deduct TDS on his own income? It is quite logical isnt it?
So his intention of the question is whether the remitance can be made without payment of tax (even if he has used the word TDS)
regards
how one can deduct TDS on his own income? It is quite logical isnt it?
So his intention of the question is whether the remitance can be made without payment of tax (even if he has used the word TDS)
regards
11 December 2013
Sir he must have got confused with sec 194LA and when its logical still he had doubt thats y he had asked question to clearify...
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