TDS on purchase of Immovable Property - 194IA

This article delves into the key provisions and applicability of Section 194IA under the Income Tax Act, focusing on TDS requirements for purchasing immovable property. It outlines essential guidelines, calculation methods, and step-by-step procedures for compliance, including how to handle deductions and deposits using Forms 26QB and 16B. The article also covers scenarios involving multiple buyers or sellers, offering clear insights into this important tax obligation.