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tds on rent classification
hi anybody plz tell me when 194 I and194 I B will be applicable for tds of rent payment???plz reply me
Replies (3)
https://cleartax.in/s/section-194i-tds-on-rent
194IB is applicable on individuals or HUF who are not required to have tax audit. Rate of TDS is 5%.This mandates deduction of TDS when rent payment exceeds 50,000 for month or part of the month.
194I is applicable when rent payment exceeds 1,80,000.The person who is responsible for paying rent is liable under this section. Rate of TDS for P&M is 2% and for L&B is 10%
194I is applicable when rent payment exceeds 1,80,000.The person who is responsible for paying rent is liable under this section. Rate of TDS for P&M is 2% and for L&B is 10%
if a pvt company pay rent of rs 60000 per month then will it come under 194IB for tds deduction????plz reply
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