Tds on transfer of immovable property - query

With effect from June 1 2013, any person who acquires an immovable property (other than agricultural land) from a resident transferor and where the value of consideration exceeds Rs 50 Lakhs, shall be required to deduct tax at source at the rate of 1 percent.

TDS on whole Amount only & not on 1 crore

Transferee will have to pay 1% TDS  at the time of credit of such amount to the account of transferor or at the time of payment of such amount whichever is earlier. It means transferee will pay 1% TDS on 2 Cr.

Yes I Agree 

Dear DIBYENDU,

It is not like that 

please refer budget particulary in this matter 

 

Please read article https://www.simplifiedlaws.com/tds-on-sale-of-immovable-property

the above site is not available

TDS @  1% on the value of transfer of immovable property where the consideration is Rs. 50 Lacs or more to be deducted either at the time of making payment or crediting of any sum as consideration for transfer of immovable property, whichever is earlier.

He has to pay TDS @ 1% on Rs 2 crore.