Hi there! I came across your query where you wanted to learn what is the TDS on rent limit for individual. I am going to share a brief answer on thai subject to clear your doubt. You can find the explanation in the following paragraphs.
Before coming to the TDS limit, you must be aware of the fact that the TDS is needed to be deducted by the individual who is paying the rent from the payable rent and pay that amount to the Indian government. Now, let me jump onto the main subject.
What is the Rent on TDS Limit?
There are two different categories when it comes to the TDS limit on rent. Let me describe them in detail.
For a citizen who isn’t an individual or a HUF, the TDS limit on rent is 10% on more than 2.4 lakh rupees.
Whereas, for an individual or HUF not liable to tax audit, 5% is the rate on the rent which is paid when the monthly rent exceeds 50,000 rupees.
This is all I had to express on rent TDS threshold limit. I hope this helps you.
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| Rent payer | TDS rate | TDS on Rent Threshold limit |
| Association of persons, trusts, firms, companies, etc. and HUFs or individuals, where the payer is engaged in a business or profession whose accounts were audited. | Ten percent of the rent. | TDS is required to be deducted in case the total rent paid or expected to be paid during the year is more than Rs.240000. This is the 194I TDS limit. |
| HUFs and Individuals that don’t come under the above section. | Five percent of the rent. | TDS is required to be deducted in case the rent for each month or part of the month exceeds Rs.50000. This is the TDS on rent 194IB limit. |
What is the TDS limit for rent?
Hazel
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2021-09-23T12:57:52+00:00 2021-09-23T19:18:45+00:00Comment
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