Tds on rent u/s 194ib
This query is : Resolved
18 April 2018
Hi
Finance Act 2017 introduces new section 194IB which requires to deduct TDS on rent paid to Individual/HUF , if amount of rent paid exceeds RS.50,000/-. My question is suppose a person is paying rent to other person/HUF whose income is below taxable limit (including rental income) , is he still liable to deduct TDS u/s 194IB.
Thanks in advance.
Finance Act 2017 introduces new section 194IB which requires to deduct TDS on rent paid to Individual/HUF , if amount of rent paid exceeds RS.50,000/-. My question is suppose a person is paying rent to other person/HUF whose income is below taxable limit (including rental income) , is he still liable to deduct TDS u/s 194IB.
Thanks in advance.
18 April 2018
Yes, tax is to be deducted in the said case.
18 April 2018
How individual/HUF House Owner will pay TDS to government , if he do not have TAN.
18 April 2018
If is not the house owner to pay TDS to Govt. The tenant has to remit TDS
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