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TDS on sale of property by joint NRI holders
A jointly (husband and wife)held apartment is being sold by NRI to resident Indian who are buying it jointly( Husband & wife). TDS on this has to be deducted and remitted. The question is should both the buyers individually have to deduct TDS on the half value of property on behalf of the NRI joint holders and remitt the same in individual PAN and generate Form 16 for each.
Replies (3)
Yes Both have deduct Tds and issue form 16B to the extent of their share in the property.
So 4 persons must have PAN .
But check whether 26QB accepts the payment if you select the seller is NRI
So 4 persons must have PAN .
But check whether 26QB accepts the payment if you select the seller is NRI
26QB is not accept instead 27Q will accept
So it covered by Section 195.
Payment to NRI.
27Q is applicable as said by above member
Payment to NRI.
27Q is applicable as said by above member
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