Exciting reform in Real estate sector- Non resident investors relieved of higher TDS
Sigh of relief for the Non-resident investors as they do not have to face higher tax deduction at source if they do not have a Permanent Account number (PAN)
The norms have been eased by the income tax department for such investors who will not be subjected to a higher rate of 20% tax deduction at source or TDS on their interest earnings, royalty or technical fee if they furnish some personal details such as e-mail and contact number, residential address and tax residency certificate from their home country.
If the country does not provide tax residency certificate
In this case, the investor can provide tax identification number or any other unique identification number issued by the country of residence/home country.
Want to get rid of higher TDS and do not have a PAN? Do not worry!
Get your documents ready.