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TDS under Sec 194IB
If I pay Rent of exact Rs. 50000 per month for commercial property, then am I required to deduct Tax?
Replies (3)
194-IB. (1) Any person, being an individual or a Hindu undivided family (other than those referred to in the second proviso to section 194-I), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of a month during the previous year, shall deduct an amount equal to five per cent of such income as income-tax thereon.
No TDS liability u/s. 194-IB, till rent upto Rs. 50,000/- PM
My rent is Rs. 50000 plus GST , I should deduct TDS , Right??
For TDS calcualtion GST is not considered, when seperately billed or mentioned.....
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