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  1. 5 days ago · TDS Rate Applicable on Rent. The person who must pay TDS on rent payment must deduct tax at source (i.e., not an individual or HUF). TDS on rent limit for FY 2022-23 is Rs. 2, 40,000. An organization might pay Rs. 90,000 per month to rent an office, for instance.

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  2. 3 days ago · Mandatory 5% TDS for Rent Payments: Individuals and HUFs must deduct a 5% TDS on monthly rent payments exceeding Rs 50,000, even if they are not subject to a tax audit. TDS by Employers: Employers deduct TDS based on the income tax slab rates applicable to employees.

  3. 3 days ago · What is Section 194H? Section 194H of the Income Tax Act deals with TDS deduction on the payment of commission or brokerage.

  4. 3 days ago · Section 194C of the Income Tax Act governs the withholding of taxes on payments made to contractors or subcontractors. This article comprehensively covers the provisions and implications of Section 194C.

  5. 2 days ago · The deduction of tax at source (TDS) has been very helpful in collecting taxes in the country by targeting the source of income itself. TDS eases the taxpayer’s burden of paying tax when it is time to file their income tax returns. That is because, at the time of filing income tax return they can take the credit for the taxes deducted at source.

  6. 2 days ago · TDS is applicable if the cash withdrawal from a bank account exceeds certain limits: 2% TDS on cash withdrawals over Rs.1 crore in a financial year. 2% TDS on cash withdrawals exceeding Rs.20 lakhs and 5% for withdrawal exceeding Rs.1 crore for those who have not filed income tax returns for the past three years.

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  8. 5 days ago · It includes details of tax deducted at source (TDS) on salary, interest, rent, etc. This allows taxpayers to ensure that the tax deductions made by the deductors are in line with the actual payments made to them.