Tenants paying over ₹50,000 rent must deduct TDS under Section 194-IB by March 31 or tenancy end. CA Chandni Anandan explains the simplified process.
TDS on rent is applicable for both rented-out commercial and residential properties. The government through the Union Budget 2017 (applicable to FY 2017/18) had inserted a new Section 194-IB to the ...
Since a few years now, the Income Tax (IT) Department has been making protocols with respect to realty transactions, making it much more stringent. From registering rental agreements with the correct ...
The TDS rate on rent paid was reduced to 2% from 5% with effect from 1 October 2024, a change that many tenants may have missed. It’s that time of the year when taxpayers start downloading the Annual ...
The government last year introduced Section 194IB of the I-T Act, which makes it mandatory that individuals and HUFs who are paying rent of more than Rs 50,000 per month have to deduct 5% of the rent ...
Certain payments made by individuals attract tax deduction at source (TDS), but many are unaware of it. For instance, 2% TDS applies to rent exceeding ₹50,000 per month, 1% on property purchases above ...
Since a few years now, the Income Tax (IT) Department has been making protocols with respect to realty transactions, making it much more stringent. From registering rental agreements with the correct ...
Some results have been hidden because they may be inaccessible to you
Show inaccessible results