Connect with Mr. Bhatt on Linkedin: Click Here
s.194IA requires deduction of TDS at the rate of 1% at the time of credit of such sum. “Consideration for Transfer of any immovable property” is explained in Explanation (aa) to include all charges of the nature of club membership fee, car parking fee, electricity or water facility fee, maintenance fee, advance fee or any other charges of similar nature, which are incidental to transfer of immovable property.
However, stamp duty is a statutory levy required to be paid as mandated by law and will not form part of Consideration for Transfer of any Immovable Property. Consideration in your case therefore should be less than 50 lacs and in such case no TDS will be required to be deducted presuming that Stamp duty value of the property is also less than INR 50 lacs.