1-A new section 194-IA is inserted to provide that every transferee (buyer), at the time of making payment or crediting of any sum as consideration for transfer of immovable property (other than agricultural land) to a resident transferor (resident buyer), shall deduct tax, @1% of such sum.

2-No deduction of tax shall be made where the total amount of consideration for the transfer of an immovable property is less than Rs. 50 Lakhs. more  

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It is not clear as to what remains un-answered for Mr.Rajagopalan. Perhaps, if it is the amount deducted from the sale value of immovable property, payable to the seller in terms of the above new section, the same needs to be remitted to the IT Department on the specified challan for the purpose, before registration of the sale deed. more  
The issue raised by Shri Shrivastava is " TDS, if I understand it correctly, by the buyer and obviously remittance of the same to the treasury. It still remains unanswered. more  
Thank you. I was not aware of this. more  
Mr. Ramesh, I hope u r aware that u need not re-invest the entire proceeds of property sold, again on immovable property/properties. But, in order to avoid Capital Gain Tax liability if any, it is enough if we re-invest again on immovable property/properties, only upto that part of the sale proceeds, calculated as under:
Sale Value/proceeds minus Index figure from base date multiplied by purchase value of the property, (which otherwise would have attracted Capital Gain Tax). more  
Mr. Ramesh, I believe there is no restriction on the no. of immovable properties bought from the proceeds of one property sold. However, such properties bought should be in the name of same person/s as the one sold. more  
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