TDS on specified development agreements requires tax deduction on cash or monetary consideration at earlier of credit or payment. TDS applies where a payer pays a resident monetary consideration under a specified agreement allowing development of a real estate project and involving share consideration in land or building; the payer must deduct tax at the prescribed deduction rate on such monetary consideration at the earlier of credit to the payee or payment by cash, cheque, draft or any other monetary mode, excluding consideration in kind, and the provision overrides other TDS rules on immovable property for such agreements.