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tax deducted at source
difference between 194 I and 194 IB in tax deducted at source
Replies (2)
u/s 194-I, Individuals and HUF, who were not subject to tax audit in the preceding financial year, are not required to deduct TDS.
u/s 194-IB, such individuals and HUF, as referred above, are required to deduct TDS on rent exceeding 50K p.m. @ 5% on aggregate rent paid during the year from the last installment of the year.
however the Tds shall not exceed last installment amount
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