Upgrade and Save: Get 10% OFF on CAclubindia Pro Subscription! Use Code: SAVE10 Subscribe Now!

Tds on Rent 5

Eswar Reddy S (CFO- at NHTF) (58263 Points)

13 March 2022

When and why 5% Tds on rent is applicable ?

Reply
Follow
Share

2 Replies

CA Shubham SIngla (Proprietor) (24 Points)
Replied 13 March 2022

Under section 194-IB, tds on payment of rent is 5%.
It is applicable to only individuals or huf (whose turnover/gross receipt does not exceed Rs. 1cr/50lacs in the preceding financial year and rent is paid in excess of rs. 50000 per month. This section is not applicable to individuals/huf to whome sec194I is applio.

3 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 13 March 2022

Only Non Audit cases of Individuals and HUFs , if rent payment exceeds 50k per month then 194IB applies.

That means even salaried employees and high networth people comes under this section

3 Like