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An resident assessing is buying a plot from and NRI. The asset is a plot of land in HUDA’s Industrial Area and the capital gain will be Long term Capital Gain to NRI. Whether there is any liability to deduct tax at source under section 195 or any other section of the Income Tax Act from capital gains arising to the NRI before making payment to the NRI.
Secondly if the buyer assessee made payment to the representative of NRI in India who is holding power of attorney from NRI then the situation will be changed or remain the same.
Thirdly if the buyer assessee needs to transfer funds outside India through bank and bank asks for 15CA , 15CB then what will be the tax liability on NRI -:(i) Tax will be charged @ 10% without giving the benefit of indexation or (ii) Tax on LTCG will be charged @ 20% after taking indexed COA in to consideration.
Waiting for a positive response. |
