Sunday, 27 October 2013

Buyer should withhold tax from sum paid to a non-resident co-owner to acquire a house property

IT/ILT: Where assessee purchased a property jointly owned by co-owners, in view of fact that one of co-owners of property was a non-resident, assessee was required to deduct tax at source under section 195 to extent sale-consideration was paid to said co-owner


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