Sunday, September 29, 2019
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Topic: TDS


Reminder: TDS on Rent payable by Individual and HUF

In order to widen the scope of TDS, section 194-IB has been inserted which provides that Individuals or a HUF (other than those covered under 44AB of the Act), responsible for paying to a resident any income by way of rent exceeding ₹ 50,000 for a month or part of month during the previous year, shall deduct an amount equal to 5% of such income as income-tax thereon.

TDS Ready Reckoner

TDS provisions under the Income-tax Act 1961 are enumerated in the post

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