TDS LIMITS FOR RENT OF COMMERCIAL BUILDINGS

For the financial year 2019-20 onwards, the TDS limit for rent on commercial buildings under Section 194-I has been increased to Rs. 2,40,000 per annum. If the total rent paid does not exceed this amount, no TDS needs to be deducted. The standard TDS rate is 10%, but this can increase to 20% if the deductee fails to provide their PAN. Note that for a specific period (14/05/20 to 31/03/21), the TDS rate was temporarily reduced to 7.5%.