A person wants to purchase property from a US Citizen holding OCI Card who is born in India. Two Queries:
1. What is rate of TDS on property purchased from such person
2. Whether buyer has to take TAN number for it.
Regards
anand dilip bagade (PROPRIETOR) (96 Points)
13 April 2019A person wants to purchase property from a US Citizen holding OCI Card who is born in India. Two Queries:
1. What is rate of TDS on property purchased from such person
2. Whether buyer has to take TAN number for it.
Regards
Neelima Muni
(owner)
(299 Points)
Replied 14 April 2019
1. TDS will apply as per section 195 of IT act.
2. Yes.