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TDS on rent 194 IB

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(Querist)
27 March 2023 We are a partnership firm. We are paying monthly rent of bungalow above Rs. 50000 to individual landlord. Can we liable to deduct TDS @ 5 % ? Please guide.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
27 March 2023 Any person (who is not an Individual/HUF) pays to another resident an income by way of rent, above a specified limit i.e., Rs.2,40,000 in a year, is required to deduct TDS u/s 194I of IT act at 10%.
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