Tds on Rent 5

Under section 194-IB, tds on payment of rent is 5%.
It is applicable to only individuals or huf (whose turnover/gross receipt does not exceed Rs. 1cr/50lacs in the preceding financial year and rent is paid in excess of rs. 50000 per month. This section is not applicable to individuals/huf to whome sec194I is applio.

Only Non Audit cases of Individuals and HUFs , if rent payment exceeds 50k per month then 194IB applies.

That means even salaried employees and high networth people comes under this section