Hi anybody can tell me if i pay rent of rs below rs 50000 under sec 194 I B
in any month then i need not deduct tds ..... Am I right mam/ Sir????plz reply me...
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TDS ON Rent
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Sir,
As per my understanding tds for rent paid u/s 194I is applicable to individuals and HUF only if the monthly rent exceeds 50,000.
as for the annual limit of 1,80,000 is concerned it is applicable for all except (individual & HUF), but includes everyone covered under tax audit.
As per my understanding tds for rent paid u/s 194I is applicable to individuals and HUF only if the monthly rent exceeds 50,000.
as for the annual limit of 1,80,000 is concerned it is applicable for all except (individual & HUF), but includes everyone covered under tax audit.
so if i comes under tds sec 194I and i pay rent in a month rs 40000 then in that case tds will not be deducted as my monthly rent does not exceeds of rs 50000... am i right sir???? plz reply me
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