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Clarification regarding tds on rent

230 views 1 replies

novice

learner

36 Points Joined May 2017

Hello folks

If I am a tenant what is the monthly rent limit (for residential property) above which I'm obliged to cut TDS from rent?

At some places it says the amount is 180000 or 24000 (updated) per year.

and other places the amount mentioned is 50000 per month.

Which one is correct? If both then how does one know which limit to follow. For example if I pay 36000 in rent do I need to cut TDS or pay the entire amount to the owner?

Replies (1)

if you are covered by section 44ab, then if the annual rental payment exceeds 240000 then you have to deduct TDS at 10% under 194I

even if you are not covered under section 44ab, if the monthly payment of rent exceeds 50000 per month then TDS @ 5% on the whole value either on the last month of tenancy or at the end of f. y whichever is earlier