Tds on Rent 5
Eswar Reddy S (CFO- at NHTF) (58270 Points)
13 March 2022
When and why 5% Tds on rent is applicable ?
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.
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.
Eswar Reddy S
(CFO- at NHTF)
(58270 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
That means even salaried employees and high networth people comes under this section
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