TDS on purchase of Immovable Property from NRI - Agreement or payment date?

As the agreement has been entered into the TDS needs to be deducted on 31.03.2021 on the full value of consideration.

Thanks for the quick reply. I have one more question, the said transaction will be reported in AIR by IGR in FY 2020-21 or FY 2021-22 since the agreement is registered in FY 2021-22

I think it will be the registered year that is FY 21-22. Also you have to claim the capital gain or loss in FY 21-22

So basically if the seller has to apply for lower deduction, it has to be for FY 2020-21 or FY 2021-22?

When the Agreement is registered in April 2021 then it will fall in FY 21-22.also in income tax under the AIR transaction it will appear in FY 21-22 so to avoid unnecessary litigation advisable to offer gain in FY 21-22. Further Seller won't be able to apply for Lower TDS for FY 20-21 as the year is already over.