Section 194IA - TDS on payment on transfer of certain immovable property other than agricultural land (as amended by Finance Act 2025)

• Applicability

Any person being a transferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of immovable property shall deduct TDS, if consideration for transfer of immovable property as well as stamp duty value of property is Rs. 50,00,000 or more.

• Rate of TDS

1% of such sum or stamp duty value of property whichever is higher.

• Time for deducting TDS

At the time of credit of such sum to the account of transferor or at the time of payment whichever is earlier.

Note : If there are more than one transferor or transferee in respect of any immovable property then consideration shall be aggregate of amount paid by all the transferee to all the transferor.