Income Tax Department: Check how TDS provision applies on rent paid
For an individual or HUF, if the monthly rent is 50,000 or more, then the renter will have to deduct 5 per cent of the total monthly rent under Section 194 IB With an aim to negate chance of tax evasion, the Income Tax Department incepted Tax Deduction at Source (TDS) on transaction in certain cases, which includes […]
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