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of <h1>TDS on Property Transfers: 1% of Transaction Amount or Stamp Duty Value, Whichever is Higher, Under Section 194-IA</h1> Section 194-IA of the Income-tax Act has been amended by the Finance Act, 2022. The amendment specifies that the tax deduction at source (TDS) on the transfer of immovable property will be calculated as one percent of either the transaction amount or the stamp duty value, whichever is higher. Additionally, the language in sub-section (2) has been updated to include both the immovable property and its stamp duty value. A new clause defines 'stamp duty value' as per the Explanation to clause (vii) of sub-section (2) of section 56.
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