Regarding deduction of tds on rent

This discussion clarifies the Tax Deducted at Source (TDS) rules for rent payments made by a partnership firm to an individual. For the financial year 2022-23, the threshold limit for deducting TDS on rent under Section 194 I of the Income Tax Act is Rs. 2,40,000. The TDS rate is 10% for land and building or furniture & fixtures, and 2% for plant and machinery, provided the recipient has a PAN. If no PAN is provided, the TDS rate increases to 20%. The query also touches upon confirming the limits for FY 2023-24 on the Income Tax website.