Tds rate on payment to nri

This query is : Open

Neelay Shah (Querist)
Follow

20 March 2013 Dear All,

One of my client is paying rent on immovable property. Please inform me the rate on which the tax is to be deducted at source. Is it 10% u/s 194I or 30.90% u/s 195..?
Is there any other special rate under DTAA if the payment is made in New Zealand?

Thanks.

CA. PIYUSH GOEL

CA. PIYUSH GOEL (Expert)
Follow

20 March 2013 dear neelay...
in your case sec. 194I will not be applicable because it will attract only in case on payment to a resident.

and as per DTAA with new Zealand.. it is written that income from immovable property will also be taxed be taxed in the country in which it is arise,.

therefore in your case tax rate will be 30.90%

Message likes : 1 times

Neelay Shah

Neelay Shah (Querist)
Follow

20 March 2013 THank you for your insightful answer .

Upgrade to CAclubindia Pro. Subscribe Now!

Neelay Shah

Neelay Shah (Querist)
Follow

20 March 2013 Piyush Sir,

Do I have to get Form 15CB and 15CA filled.?