Section 194-IB – TDS on Rent Paid by Individuals or HUFs
Overview of Section 194-IB – TDS on Rent Paid by Individuals or HUFs Applicability of Section 194-IB Any individual or Hindu Undivided Family (HUF) (not covered under tax audit under Section 44AB) who pays monthly rent exceeding ₹50,000 is required to deduct TDS @ 5% under Section 194-IB. Definition of “Rent” Under 194-IB : “Rent” …