I indivisual paying rent of Rs 20,000/- per month making total rent of Rs 2,40,000/- ( two lakh forty thousand per year)..........................to an indisual against his house taken on rent..............is there need to deduct any TDS or not
I indivisual paying rent of Rs 20,000/- per month making total rent of Rs 2,40,000/- ( two lakh forty thousand per year)..........................to an indisual against his house taken on rent..............is there need to deduct any TDS or not
Yes, if the individual/tenant who is liable to audit as per the provisions of section 44AB of the Act during the financial year immediately preceding the financial year shall be liable for deduction of tax at source on rent by him.
but not if the rent is for a residential property and not being claimed as a business expense.
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