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Tds liablity on buying commercial property

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(Querist)
11 April 2024 Our proprietor's wife bought a land and building worth 94 lacs. The land value is 20 lacs and building value is 70 lacs. Does TDS needs to be paid in this case.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 April 2024 Yes, 1% TDS applicable in this case under section 194IA.
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Stephen Marks

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Stephen Marks (Querist)
12 April 2024 Sir, am i right that TDS to be deducted for 44 lacs only? i.e., above the 50 lacs value
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 April 2024 No, TDS applicable on entire value.

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