TDS on purchase of property

What is TDS on the Purchase of Property?
TDS on property purchase refers to the tax that is required to be deducted at the time of making payment for the purchase of property. The buyer of the property is responsible for deducting TDS and depositing it with the government. The tax is deducted at the time of payment of consideration for the property.
Applicability of TDS on Property Purchase
TDS on property purchase is applicable when the consideration for the property exceeds Rs. 50 lakhs. The tax is applicable on all types of properties, including residential, commercial, and industrial. The tax is also applicable to both Indian residents and non-residents.