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Tds under section 194la

This query is : Resolved 

26 January 2015 assessee purchased a land of rs16100000 and made payments as follws
1st 1000000
2nd 4000000
3rd 5000000 on different dates
and then final payment rs6100000 on a different date and then deducted tds on whole amount??My question is "is tds required to be deducted on part payment of 5000000 and then on balance or the assessee can deduct tds on whole amount at once"?

26 January 2015 Whenever the payment is made on transfer of property after 01/06/2013 and such payment is more than Rs.50 lakhs, then transferee has to deduct TDS @ 1%.

Ps:- The above observation is based on the 'interpretation clause', since the law is silent on deduction on fractional payments, by giving emphasis on the head line of the said section which reads "PAYMENT on transfer of certain immovable property ".



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