Hi anybody can tell me if i pay rent of rs below rs 50000 under sec 194 I B
in any month then i need not deduct tds ..... Am I right mam/ Sir????plz reply me...
Sir,
As per my understanding tds for rent paid u/s 194I is applicable to individuals and HUF only if the monthly rent exceeds 50,000.
as for the annual limit of 1,80,000 is concerned it is applicable for all except (individual & HUF), but includes everyone covered under tax audit.
CAclubindia
