Sweta Jalan (Company Secretary) (177 Points)
07 April 2010If an individual buys shares off-market of an Indian Company from an NRI and issues him the purchase consideration in cheque which the NRI deposits in his NRO account, whether the individual issuing cheque for purchase amount is liable to deduct tds?
Nicky
(Chartered Accountant)
(245 Points)
Replied 07 April 2010
Yes under Section 195 any payment to Non Resident attracts TDS...
Now for the rate and other ancillary conditions details such as country of residence and other details are required,
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