How the TDS u/s 194IA is to be deducted by a Non-Resident, at the time of payment of Sale proceeds to the Resident ? As PAN is not available with the N.R.!! Kindly explain the procedure, with reference, a.s.a.p.
Thanks in advance.
CA Rashmi choudhary (Employee) (94 Points)
10 March 2016How the TDS u/s 194IA is to be deducted by a Non-Resident, at the time of payment of Sale proceeds to the Resident ? As PAN is not available with the N.R.!! Kindly explain the procedure, with reference, a.s.a.p.
Thanks in advance.
jaya krishna
(Chartered Accountant)
(262 Points)
Replied 10 March 2016
As per section 195 payment made to NRI is required deduct TDS. if he is not having pan Rate shall be higher of the following
1. 20%
2. rate as per chapter XVII B
3. if any rate specified under income tax.
and also furnish form 15 CA, form 15 CB. Also consider DTAA rules.
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