Tds on rent paid to the bank

Yes TDS to be deducted u/s 194I of the Income Tax Act 1961 as per the limits specified if you are liable to get yourself audited u/s 44AB/44AD of the Income Tax Act 1961.

1. Applicable Section: Section 194I
2. If you are Ind'l/HUF and subject to tax audit or any other person: Tax to be deducted.
3. Rate of Tax: P&M: 2%, Others: 10%

Regards,

Arpit Kakar

Tax Expert; thakurani.in

One more point..

TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 1,80,000 p.a. This limit of Rs. 1,80,000 p.a. is per taxpayer