satya prakash mishra (Accounts Offier) (28 Points)
09 January 2009
Rajeev
(www.rkmco.com)
(985 Points)
Replied 30 September 2009
Yes since the property is in India , TDS to be deducted u/s 194I if the total rent payment exceeds 120000 pa , EC is also to be levied to a NRI @ 3% .
Wef from 1.4.2010 , TDS to be deducted @ 20% if no Pan is furnished .
Why dont u ask him to apply for a Pan number or you can apply on his behalf , all your probs will be solved in 10 days .
Rajeev
(www.rkmco.com)
(985 Points)
Replied 30 September 2009
Yes since the property is in India , TDS to be deducted u/s 194I if the total rent payment exceeds 120000 pa , EC is also to be levied to a NRI @ 3% .
Wef from 1.4.2010 , TDS to be deducted @ 20% if no Pan is furnished .
Why dont u ask him to apply for a Pan number or you can apply on his behalf , all your probs will be solved in 10 days .
Rajeev
(www.rkmco.com)
(985 Points)
Replied 30 September 2009
Yes since the property is in India , TDS to be deducted u/s 194I if the total rent payment exceeds 120000 pa , EC is also to be levied to a NRI @ 3% .
Wef from 1.4.2010 , TDS to be deducted @ 20% if no Pan is furnished .
Why dont u ask him to apply for a Pan number or you can apply on his behalf , all your probs will be solved in 10 days .
Rajeev
(www.rkmco.com)
(985 Points)
Replied 04 October 2009
oh yes 195 , mistake .
One thing isnt the bank withholding the Tax when u make the rent payment ? wat does 15CB of the CA say ? The rates are 30% for nri individuals Ec of 3% applicable
kuldeep jaiswal
(Consultant)
(39 Points)
Replied 10 October 2010
dear team
TDS to be deducted @ 20% if no Pan is furnished ,but on etds how we will file bcz it take 85% of pan plz solve my problem,
kuldeep jaiswal
CAclubindia
