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
September 23, 2021
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Finance
,Taxes
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