My lease agreement ends in October 31 2024. I have been renting since January 2024.
I usually deduct TDS for the landlord in the last month of the agreement for the full financial year. Since this year TDS rate for the rent by individual is reduce to 2% (from 5%) effective October 1st 2024.
Should I be deducting TDS by 2% for all the 7 months, or apply 5% for the first six months and 2% for October month only.
CAclubindia
