Tds Section 194i
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The threshold limit was rs.
Tds section 194i. Let us study in detail section 194i of the income tax act. As per the provision every person other than individual or huf shall deduct tds on rent. The provisions of tds section 194i explain the applicability rate time of deduction and payment of tds on rent.
Tds under section 194i a tenant or lessee is required to deduct income tax tds while paying or crediting rent to a resident landlord or lessor. The rent under this section broadly includes house rent machine rent building rent office rent furniture rent etc. Following table explains the basic coverage of section 194 i.
Section 194i of the income tax act 1961 contains provisions with respect to tds deduction on payment of rent. It imposes obligation for tds deduction on persons other than individual huf making rental payments to resident indians above a specified limit i e. 1 80 000 until fy 2018 19.
Section 194i of the income tax covers tds on rent. This section is primarily for the people who are earning from renting or subletting their property. What is section 194i.
Here is a detailed explanation of provisions of section 194i tds on rent. The provisions of section 194i define how the tds on rent is to be treated. Section 194i of the income tax act is related to the tds on rent.
Rs 2 40 000 in a year.
Due Dates Tds Tax Deducted At Source Due Date Dating
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