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TDS on rent section 194IB

vaibhav sarode (CA final) (49 Points)

22 May 2018

Hi, please help me with query-
Section 194IB is applicable on per property or per person where rent paid is more than 50k pm?

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7 Replies

dileep bandi (Student ) (159 Points)
Replied 22 May 2018

194 IB applicable only for Individuals and HUF who are not liable to tax audit.
It is applicable rent payment exceeds RS.50K pm.
TDS rate @ 5%.
TDS will deduct based on per person.

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magesh (B.Com) (53 Points)
Replied 22 May 2018

per rental property.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 22 May 2018

@ Magesh.,
Please explain Yourself for the "Per rental property"

CA S Praveen Kumar Reddy (Chartered Accountant) (2195 Points)
Replied 22 May 2018

Per property and per person

mona (Direct Tax) (136 Points)
Replied 22 May 2018

ACCORDING TO ME IT SHOULD IDEALLY BE PER PROPERTY . THE LIMIT OF RS 50,000 IS RENT PER MONTH .AND IN CASE ID RENT IS EXCEEDING RS 1,80,000 THEN ONLY TDS IS APPLICABLE.

KINDLY OTHERS CONFIRM.

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Pankaj sahoo (CA) (18 Points)
Replied 22 May 2018

It is per person because the wording in section 194IB is that tds should be deducted from the year end rent or before vacation of person whichever is earlier. Hence I conclude that 194IB applicable on person as the word vacation is applied on person.