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TDS on buyback of flat

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(Querist)
26 October 2017 We are planning to buyback few units from our client in our Project at premium of Rs. 1500/- per sq. ft.. Please clarify us whether we are required to deduct TDS on this transaction?
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Vishakha Kejriwal.

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Vishakha Kejriwal. (Expert)
27 October 2017 TDS would be required to be deducted u/s 194IA of the Income Tax Act if the sale consideration exceeds Rs. 50 lakhs.

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