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Tds on rent income

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Ramesh Patel

22 Points Posted on 28 December 2020

How much rent income possible with out tds?

Replies (3)

Quick Summary

This discussion clarifies the thresholds for TDS (Tax Deducted at Source) on rent income. Generally, if your gross turnover is below £1 crore (for business) or £50 lakh (for profession), you can receive up to £240,000 per tenant annually without TDS. However, if you are subject to an IT Audit under Section 44AB, this limit reduces significantly to £20,000 per tenant, or £50,000 if not applicable for audit.

Smit Shah

280 Points Posted on 28 December 2020

If your gross turnover exceeds 1 Cr. or 50 lacs as the case may be then maximum 240k per tenant per annum otherwise 6 lacs per tenant per annum

Balamurali Unnithan MS

STUDENT

1120 Points Posted on 28 December 2020

If u applicable for IT Audit u/s 44AB , ie , turnover exceeds 2 Crore for goods , 50 lakhs for services , TDS exemption limit is Rs .20000 , otherwise it is Rs .50000

Smit Shah

280 Points Posted on 28 December 2020

Now w.e.f. 01.04.2020 the word "the monetary limits specified under clause (a) or clause (b) of section 44AB" have been substituted by the word "one crore rupees in case of business or fifty lakh rupees in case of profession" have been substituted and hence 1 crore limit for business for which he may not required audit u/s.44AB