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Tds on immovable property

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Querist : Anonymous (Querist)
19 June 2013 can anyone guide me about TDS on Purchase of Immovable Property (Section 194IA)..
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CA Kapil Verma

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CA Kapil Verma (Expert)
19 June 2013 in simple words:

if any person purchase property for the value exceeding 50 lacs, then he need to deduct TDS @1% and shall be deposit in bank through form 26QB.
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CA Kapil Verma

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CA Kapil Verma (Expert)
19 June 2013 please refer faqs:

https://www.caclubindia.com/experts/tds-u-s-194-ia-in-case-if-joint-owners-1336119.asp


https://www.caclubindia.com/experts/section-194ia-1337354.asp
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