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of <h1>Section 194-IA: Buyer must deduct 1% TDS on non-agricultural property transfers above ?50 lakh, includes incidental charges</h1> A transferee who pays consideration for transfer of immovable property (excluding agricultural land) must deduct income tax at one percent of the consideration or the stamp duty value, whichever is higher, at the time of credit or payment; no deduction is required where both the consideration and stamp duty value are below fifty lakh rupees. Incidental charges (e.g., club membership, parking, utilities, maintenance) form part of consideration. Where multiple transferors or transferees exist, the consideration is the aggregate amounts. The provisions of the section override applicability of section 203A to the person required to deduct.
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