Tds on rent paid to two persons

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If the tenent pays total rent of Rs.80K,he pays to two persons of family Rs. 40K each then is tds applicable?
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On 20 December 2024 at 18:55 Report
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Master in Accounts & high court Advocate
9596 Points Joined December 2011

 The tenant pays a total rent of ₹80,000, split equally between two family members, ₹40,000 each.

_TDS Applicability:_ As per Section 194-I of the Income-tax Act, 1961, TDS is applicable on rent payments exceeding ₹2,40,000 per annum

. _In this case:_ Since the rent payment to each individual is ₹40,000, which is below the threshold of ₹2,40,000

, TDS is not applicable.

_However:_ If the total rent payment of ₹80,000 were made to a single person, TDS would still not be applicable, as the threshold of ₹2,40,000 is not exceeded.

_Important Point:_ It's essential to note that TDS applicability can vary depending on individual circumstances.

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On 20 December 2024 at 19:15

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