There are 2 Main sections for Rent
Section 194I
Section 194IB
As per Section 194I,
TDS @ 10% is to be deducted if Rent paid is more than 180000 per annum
THhis is applicable if we are doing business and are liable to audit in last year
As per Section 194IB
|
It is applicable in all othe cases like Small Business not liable to tax sudit Personal Rent of House for Salaried Individual |
Any Person liable to pay rent for more than 50000 per month are to deduct TDS @ 5%
| Section | Description | Cutoff | Rate of TDS |
| 194-IB | Rent Paid | 50000 PM | 5% |
hence,even Salaried Person paying Rent more than 50000 per month and claiming HRA has to deduct and pay TDS of the landlord
This TDS is to be deducted
Annually in last month (March)
or
last month of Rent Agreement.
Written on Feb. 27, 2018, 1:24 p.m.