Under Section 194IB of the Income Tax Act, 196, individuals and HUFs must deduct 2 percent TDS on rent if the monthly amount being paid exceeds Rs 50,000 ...

Many people living in rented houses focus mainly on paying monthly rent on time, but very few are aware that income tax rules ...

The Income Tax Department has issued notices to tenants paying ₹50,000 or more in monthly rent who have not deducted TDS. Since October 2024, it is mandatory to deduct 2% TDS on rent payments ...

The requirement to deduct the tax is qua each recipient of the rent and not qua the property. Since the rent payable to each of the owner of the property is below the threshold of Rs 50,000 the tenant ...