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I wanted to buy a property from NRI
1 year ago
I wanted to buy a property from NRI whos has given GPA to his sister and GPA has been adjudicated and registered .Now i have to do the payment to GPA holder or NRI .And how much TDS i have to pay before registration .Is it ther any risk in future
A.Hello Sir,
If you are buying property from GPA holder then think before buying it as the GPA holder cannot directly sell the property. The Supreme Court of India in 2011 also said the same in Suraj lamp case.
TDS was to be deducted in case payment for purchase of immovable property made to GPA (general power of attorney) holder of non-residents because, at best, GPA holder could be considered as only a conduit between assessee and the owners of property and therefore, in true sense, assessee had made payment to non-residents.
If you are buying property from GPA holder then think before buying it as the GPA holder cannot directly sell the property. The Supreme Court of India in 2011 also said the same in Suraj lamp case.
TDS was to be deducted in case payment for purchase of immovable property made to GPA (general power of attorney) holder of non-residents because, at best, GPA holder could be considered as only a conduit between assessee and the owners of property and therefore, in true sense, assessee had made payment to non-residents.
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