TDS on immovable property now applies to the higher of sale consideration or stamp duty value for deduction. The amendment changes the TDS computation for immovable property transfers so tax is deducted at the prescribed rate on one per cent. of the sum or the stamp duty value, whichever is higher; sub-section (2) is substituted to make both the immovable property and its stamp duty value jointly operative; and an Explanation clause adopts the definition of 'stamp duty value' by cross-reference to the specified explanatory provision governing capital receipts.