TDS on rent of a building if rent is exactly Rs. 240000 per annum ? for F.Y 2020-21

This discussion clarifies the rules around deducting Tax Deducted at Source (TDS) on building rent for the financial year 2020-21. Specifically, it addresses whether TDS is applicable when the annual rent is exactly Rs. 2,40,000. The consensus, referencing Section 194-I of the Income Tax Act, is that TDS is only required if the annual rent amount *exceeds* Rs. 2,40,000. Therefore, if the rent is precisely Rs. 2,40,000, no TDS deduction is necessary for that landlord.