I understand that with effect from 2013, there is the responsibility for the transferee(purchaser) to withhold the TDS of 1% if the property consideration price immovable property is more than and equal to 50 lakhs.
My question is what the defintion of '' consideration proce'' does it mean that the payment maid to the seller or the market value(circle rate) as determined by the govt registration office for the purpose of determining registration fees or stamp duty .
case-1: if MV is higher than 50 lakhs but the payment to the owner is less than 50 lakhs
case -2: if MV is lower than 50 lakhs but the payment to the owner is higher than 50 lakhs
Kindly guide me .
Thanks & Regards