TDS on Rent for Flat given on L&L basis

This discussion clarifies whether TDS needs to be deducted on rent for a Mumbai flat occupied on a Leave and License (L&L) basis by two individuals. Each tenant pays £40,000 per month. The consensus is that TDS is not required as the individual monthly rent is below the £50,000 threshold specified under Section 194IB of the Income Tax Act. If TDS were applicable, it would be deducted and deposited in the final month of the financial year or tenancy.