House property

the value as per the agreement is More than 50lacs then TDS @ 1%needs to be made on the entire value. so in your case it will be 1lac TDS
when you sell your land you will be subjected to capital gains tax 20%.if held for more than 36months. however you can full tax by investing in a residential house property by investing entire sale consideration received. so the property that you purchase for 1cr can be applied for capital gains on sale of land. alternately you can invest max 50lacs in capital gains tax savings bonds under 54EC and save cg tax
the interest portion o. your house loan is deductible from gross total income upto RS.2lacs and on principle AMT you can get deduction under 80C upto 150000.

Thank you very much sir.

you are always welcome

TDS will be deducted @ 1%.

Housing loan principal repayment deduction may be claimed u/s 80C upto 1,50,000 and interest payment deduction u/s 24(b) upto 2,00,000 or no limit depending on house being LOP or SOP.

Dint understood your second question.