Hi, please help me with query-
Section 194IB is applicable on per property or per person where rent paid is more than 50k pm?
Menu
TDS on rent section 194IB
Replies (7)
194 IB applicable only for Individuals and HUF who are not liable to tax audit.
It is applicable rent payment exceeds RS.50K pm.
TDS rate @ 5%.
TDS will deduct based on per person.
It is applicable rent payment exceeds RS.50K pm.
TDS rate @ 5%.
TDS will deduct based on per person.
per rental property.
@ Magesh.,
Please explain Yourself for the "Per rental property"
Please explain Yourself for the "Per rental property"
Per property and per person
ACCORDING TO ME IT SHOULD IDEALLY BE PER PROPERTY . THE LIMIT OF RS 50,000 IS RENT PER MONTH .AND IN CASE ID RENT IS EXCEEDING RS 1,80,000 THEN ONLY TDS IS APPLICABLE.
KINDLY OTHERS CONFIRM.
It is per person because the wording in section 194IB is that tds should be deducted from the year end rent or before vacation of person whichever is earlier. Hence I conclude that 194IB applicable on person as the word vacation is applied on person.
hi can you tell me plz tds on rent paid u/s 194 IB will be deducted per month???
Recent Threads
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
Related Threads
CAclubindia
