Tax deduction on immovable property transfers: transferees must withhold income tax on non-agricultural property transfers. A new provision requires transferees paying consideration for transfer of immovable property (other than agricultural land) to deduct one per cent of the consideration as income-tax at time of credit or payment; monetary thresholds exclude certain transactions based on whether property is in a specified area. If stamp-duty valuation exceeds contractual consideration, that valuation is deemed the consideration for deduction purposes. Registration of transfer documents is prohibited unless the transferee produces proof of deduction and payment to the Central Government, and general deductor provisions do not apply to persons required to deduct under this section.