1.Is the sale consideration (agreed price for the property) >= 50 lacs?
-- How can we conclude this - In my case the agreement mentioned as below
...the purchaser approached the Vendors/Developer and expressed his desire to purchase Schedule "B"Property, which has fallen to the share of the developer for a sale consideration of Undivided share Rs. 30,00,000.00/- (Rupees Thirty One Lakh Ninety One Thousand Five Hundred and Twenty only) and construction cost Rs. 40,00,000.00/- (Rupees Forty Seven Lakh Eighty Seven Thousand Two Hundred and Eighty only) which includes the Car Parking, BESCOM deposits, cost towards the amenities and existing VAT....
So in this case what can be considered as Sale consideration - 30L or 70L - and on which amount will the TDS be applicable.
Few notes : Builder is going to register property on value of 30L, Bank has approved loan on 10% of total amount (i.e 80% of 70L)