Section 195 IT Act. - Buy flat from NRI

Querist : Anonymous (Querist) 05 July 2011 This query is : Resolved
Respected Sir, I am planning to buy a flat in Bangalore from a person who is staying in US for last 5 years. Following is my query:
1.The seller says that he is non-NRI. How can i get his NRI or other status?

2.As per seller, The money will be transferred to his Local Indian bank account(non-nri/nro/nre).Will there be any issue over TDS deduction as per Section 195 Income Tax act.

3.What precautions should be taken while dealing with an NRI.

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Vineet (Expert) 04 August 2011
You have to verify from seller regarding his tax residency status. You can ask for copy of his last year IT Return.

Yes, if he is non-resident, issue of withholding tax u/s 195 will arise.

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