Under Section 194-IA of the Income Tax Act, 1961, when an individual purchases immovable property worth more than Rs. 50 lakh.
FORM 26QB: TDS ON SALE & PURCHASE OF PROPERTY Income Tax Act, 1961, when an individual purchases immovable property worth more than Rs. 50 lakh, they are required to deduct 1% TDS from the sale amount when making payment to the seller.












