Martial law has been declared, with large gatherings of people and critical news reporting banned.
Mr Thaksin's deputy and chief aide, Chidchai Vanasathidya, has been taken into army custody.
Army chief Gen Sonthi Boonyaratglin said in a TV address that the coup was necessary to unite the country.
The military had no intention of holding onto power, he added.
The coup leaders have announced that regional army commanders will take charge of areas outside the capital, Bangkok.
...
In the capital Bangkok, tanks have cordoned off the government district. They have yellow ribbons tied around their barrels to signify loyalty to Thailand's revered king.
On the surface, Bangkok is functioning as normal, says the BBC's Kate McGeown there. The city's monorail system is packed with commuters, and cafes and street vendors are open for business.
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