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Jul 29, 2019 · The Individual or HUF who is liable to deduct TDS in terms of provisions of section 194-IB of the Income Tax Act, 1961 is required to deduct TDS @ 5%. It is important to mention here that in the absence of the PAN of the landlord, the tenant is liable to deduct TDS at the maximum marginal rate of 20%.
2 days ago · TDS for Rent - Section 194I of the Income Tax Act which refers to TDS deduction for rental income. Check out to understand its application and compliance to manage rental income.
Oct 24, 2018 · This section requires that every individual and HUF paying rent more than Rs. 50,000/- per month (or part of a month) for the use of any land or building or both, need to deduct TDS at the rate of 5%.
Jan 16, 2024 · TDS on Rent: Section 194I implies that an individual who pays rent is subject to tax deduction at the source. Know about tds on rent limit, objective, rates, and exemptions.
Apr 5, 2018 · This section requires certain individuals or HUF to deduct TDS on rent paid for the use of any land or building or both. Persons required to deduct TDS under Section 194IB.
Jul 20, 2021 · Every individual paying monthly rent above Rs 50,000 to the landlord should deduct TDS on rent. This is specified under Section 194IB of the Income Tax Act. This section is also applicable to HUF, which pays rent above Rs 50,000 to a landlord.
Jul 6, 2021 · Rent paid by the tenant may be for residential or commercial purpose. TDS is to be deducted even if rent paid exceeds Rs.50,000 for only one month in a year. Example-Rent paid from April 2021 to January 2022 is Rs. 45,000 per month. Rent paid for February and March 2022 is Rs. 55,000 per month.
