meaning of second proviso to sec 194I

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Any person, being an individual or a Hindu undivided family (other than those referred to in the second proviso to section 194-I), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of a month during the previous year, shall deduct an amount equal to five per cent of such income as
income-tax thereon.

Could any one explain it ???
Replies (1)
Originally posted by : Madhusudhan Reddy
Any person, being an individual or a Hindu undivided family (other than those referred to in the second proviso to section 194-I), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of a month during the previous year, shall deduct an amount equal to five per cent of such income as income-tax thereon.Could any one explain it ???

Sec. 194-IB(1)

- any person

- being an individual or a Hindu undivided family

- to whom tax audit was not applicable during the previous F.Y.

- and who pays rent more than 50,000/month to a resident

- shall deduct TDS @ 5% on the rent amount

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