Tds u/s 195

Hi,

My client has bought a flat in January,2018 from NRI seller. Seller didn't obtain TDS certificate from tax department and my client didn't deduct any TDS. My understanding is that buyer should have deducted 20% TDS on the sale price and now he has to pay heavy penalty for not deducting it. 

What can be done now to lower his penalty? Please advise.

Replies (5)

The penalty is reduced to some extent or may be nullified on request, provided seller has paid his tax liability and filed return declaring gains over the property, if any

What if the seller has not filed the return and paid the taxes? Then will the buyer be liable to pay the taxes plus penalty for not deduction TDS.

Thanks

Yes ...

 Most of time penalty gets condone for some resons like ignorance of the assessee.....

Please advise me on the followings:-

1. Can buyer (instead of NRI seller) apply for NIL TDS certificate from IT department?

2. Can the certificate be applied after the transaction is over?

Thanks a lot for your advice Mr. Dhirajlal ji.

 

 

1. Yes

2. NO

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
12 November 2026
Tax Product Specialist

BharatX.ai

Gurgaon

B.Com

View Details
Company
13 November 2026
Accountant

New Mobile India

Muzaffarpur

B.Com

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details