Tds applicability for non audit individual businessman


This query is : Resolved 

Quick Summary
This discussion clarifies whether an individual businessman not liable for audit, with a turnover under 1 crore, needs to deduct TDS on rent paid for their business premises. The consensus is that they are not liable for TDS on such rental payments, referencing Section 194IB of the Income Tax Act.

(Querist)
28 May 2021 Non audit individual running a business turnover less than 1 crore,is liable to deduct Tds on commercial property in which is is operating his business?
Please suggest.

28 May 2021 Not liable for TDS on such rental payment.

29 May 2021 Refer section 194IB..


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