TDS on buying property from NRI

[Card]

Hi, Has anyone bought a property from an NRI recently? If so, how did you deal with the TDS which is approx 22.8%? Did you apply for TAN to deduct the TDS?


Any information on this subject will be very helpful.

 

[percolate]

Why do you need a TAN?
You can pay the TDS without it, right?

 

[Card]

Why do you need a TAN?
You can pay the TDS without it, right?

That's what I want to understand. Will PAN suffice?

 

[percolate]

That's what I want to understand. Will PAN suffice?

yeah PAN is sufficient

 

[Card]

yeah PAN is sufficient

I see this everywhere when it comes to buying property from NRI - Buyer should acquire a TAN under section 203A of the Income Tax Act before deducting TDS.

Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst