Tds on immovable property

Dear Rahul , 

According to my knowledge, they are not liable to deduct TDS since your deed is registered before 1st June, 2013.

Agree with above reply,

Payment in respect of which tax is to be deducted Any sum by way of consideration (of Rs. 50 lakhs or more) for transfer of any immovable property (other than agricultural land) Who is responsible for tax deduction Any person (being a transferee) responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land.

Time of deduction Tax shall be deducted at the time of payment (in cash or by issue of a cheque or draft or by any other mode) or at the time of giving credit to the transferor (in the books of account of the transferee), whichever is earlier.

Rate of TDS 1 per cent.

Others Provisions of TAN shall not apply.

Since the time of deduction clearly says that TDS should be deducted at the time giving credit or payment whichever is earlier, If you have passed entry before 1st June,2013, Then TDS is not deductible. In case the transaction has been accounted for after 1st June, 2013, TDS shall be deducted at the time of payment or date of credit.