Evolution of TDS Provisions for Real Estate Development Agreements : Clause 393(1)[Table: S.No. 3(ii)] of the Income Tax Bill, 2025 Vs. Section 194IC of the Income-tax Act, 1961

TDS on monetary consideration under development agreements - deduction at credit or payment with no threshold.

Clause 393(1)[Table: S.No. 3(ii)] requires TDS on any monetary consideration under agreements referred to in section 67(14), applying to any payer, excluding in-kind consideration, with deduction at the earlier of credit or payment, no monetary threshold, and an explicit rule that where both general immovable property TDS and S.No. 3(ii) apply, deduction is to be made only under S.No. 3(ii).