When one buys a property they must deduct TDS from the payment made to the seller if the sale price of the transaction exceeds Rs 50 lakhs.
TDS has to be deducted @1% at the time of making payment to the seller. And this amount needs to be deposited as TDS by the buyer. The TDS on the immovable property has to be paid using Form 26QB within 30 days from the end of the month in which TDS was deducted.
If this is not done then you may receive a notice for the same.