hemant talwar (Chartered Accountant) (30 Points)
28 July 2015What is the TDS rate to be applied by resident buyer on sale of Agricultre land held by NRI through inheritance?
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 28 July 2015
No TDS is deductible. 195 applies only to payments which are liable to tax in India. Sale of Agricultural property is exempt and therefor not liable to tax. Therefore no TDS u/s 195 is deductible.
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