As per section 194IA, any transaction on or after 1st June 2013, where any buyer buys an immovable property (other than agricultural land) costing Rs. 50 lakhs or more, need to deduct tax at a rate of 1% on the purchase price. TDS needs to be deducted on the total amount paid to the seller of property excluding VAT and Service Tax. Hence TDS is deducted on Transaction Value of Property.


In case of sale of property from one resident individual to another resident individual:  Form 26QB needs to be filed. TAN is not mandatory to file Form 26QB. It's an online form that can be filed through TIN NSDL.  


In case of sale of property by NRI or Corporate Entity: e-TDS Return in Form 27Q or Form 26Q needs to be filed respectively. TAN is mandatory to file e-TDS Return.