Tds on rent house of individuals
Goutam Sen (62 Points)
19 October 2022
whether tds is deductible in case payments of rent by an individual over Rs.120,000 in a year
8 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193731 Points)
Replied 19 October 2022
If you are liable to tax audit, As per TDS on rent - Section 194I, the limit stands as the annual rent amount of more than Rs. 2,40,000.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 19 October 2022
For individuals other than tax audits , 50000/- is the limit per month under section 194IB
Goutam Sen
(62 Points)
Replied 05 November 2022
Please let me know if I am not under tax audit paying rent Rs.50000 per month to an individual, not required to deduct tax at source as per section 194 IB.
Goutam Sen
(62 Points)
Replied 05 November 2022
Please let me know if I am not under tax audit paying rent Rs.50000 per month to an individual, not required to deduct tax at source as per section 194 IB.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193731 Points)
Replied 05 November 2022
You have to clarify whether rent paid is Rs, 1,20,000/- PA or Rs. 50,000/- PM, as initially you asked for Rs. 1,20,000/- Per Annum?
Goutam Sen
(62 Points)
Replied 05 November 2022
II I pay in a new agreement Rs.50000 per month ,please let me know the for the non tax audit individual
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193731 Points)
Replied 05 November 2022
For Rent Rs. 50,000/- PM TDS u/s. 194Ib will be applicable for individuals who are not required to get their accounts audited u/s. 44AB of IT act..
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 09 November 2022
Upto 50000/-rent per month it is not required to deduct Tds u/s194IB
Recent Topics
- Workmen compensation insurance policy
- GST Revenue at All-Time High – A Genuine Gro
- TDS ON PURCHASE OF PROPERTY BY FIRM
- Gst missing invoice in return
- Discuss and Download CA Inter Question Paper May 2
- Discuss and Download CA Final Question Paper May 2
- ISSUES ON TDS AMOUNT ON PAYMENT OF LAST INSTALLMEN
- Looking for Help with Business Registration
- Two Buyers and One Seller - 1% TDS to be deducted
- How to Proceed with withdrawl of appeal filed with
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
