TDS on immovable property must be deducted at the statutory rate when consideration exceeds the prescribed threshold. Deduction of tax at source applies to payments of sale consideration for immovable property (other than rural agricultural land) made to resident sellers: tax must be withheld at the statutory 1% rate where the sale consideration meets or exceeds the legislated threshold, and where the consideration exceeds that threshold the deduction is calculated on the entire consideration. Payments to non resident sellers are governed by the separate withholding provisions applicable to non residents and not by the resident immovable property withholding rule.