• NRI TDS not paid by previous owner

Previous owner has paid only 1% tds on the property purchased from nri instead of 22.22% in 2019

We have bought this property from the resident seller deducting 0.75% TDS now.

Would the previous tax liability fall on us or the previous owner or the property in question?
Asked 3 years ago in Property Tax

Hi

 

Since you are purchasing the property from a resident Indian, 194IA shall be applicable to you and you need to deduct TDS @1% (currently .75% due to covid relaxation).

 

The earlier liability shall not be yours.

Lakshita Bhandari
CA, Mumbai
5687 Answers
908 Consultations

5.0 on 5.0

- No previous owner tax liability default will not fall on you. You are required to deduct TDS @0.75% only. 

Vivek Kumar Arora
CA, Delhi
4825 Answers
1029 Consultations

5.0 on 5.0

The default was committed by previous owner, hence you are not liable for that.

Satish Dholwani
CA, Jodhpur
9 Answers

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

No, there would be no previous tax liabilities on you.

 

You are required to deduct TDS @0.75% only. 

 

 

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

Hello,

 

Liability created due to default by the previous owner won't fall on you. 

In your purchase, you would be liable to deduct TDS @ 0.75%.

 

Regards,

CA Hunny Badlani

Hunny Badlani
CA, Madhya Pradesh
2608 Answers
16 Consultations

5.0 on 5.0

No the previous liability won't fall on you.

 

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement. You can even book phone consultation for further personal assistance.

Thank you.

Naman Maloo
CA, Jaipur
4265 Answers
96 Consultations

5.0 on 5.0

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