Who pays tds while purchase of real estate property mumbai?

 When purchasing a house or any real estate property in Mumbai or anywhere else in India, one basic question arises: who pays tds while purchasing a property? As the name implies, TDS on property is a tax deduction at the source on any guaranteed income received by a person.

TDS on property is deducted by the buyer of property and the payer of rent at the rate of 1% if the property costs Rs.50 lakhs or more, according to sections 194IA and 194IB.
It is now clear that the buyer of real estate property pays tds when paying the seller, which is deposited in the government treasury.
    

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