Good morning Respected Experts !
Property purchased from a NRI. Query on TDS implication on transaction...
1. Whether buyer need to obtain TAN or not mandatory?
2. What is TDS rate ??
3. Is PAN of NRI Seller mandatory ??
4. If two buyers then should deduct TDS separately or only one can deduct total TDS??
please guide ....
TDS is to be done as per provisions of Section 195
Answers to your 4 questions.
1) YES Buyer require TAN for deducting TDS( only aplicable to immovable property)
2) FOR Tds rates Refer section 195
there are 3 types of rates based on income
3) Need not required pan of seller, but required identity proof
4) optional
CAclubindia
