Payment of rent by certain individuals or Hindu undivided family.

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..... a resident any income by way of rent exceeding fifty thousand rupees for a month or part of a month during the previous year, shall deduct an amount equal to five per cent. of such income as income-tax thereon. (2) The income-tax referred to in sub-section (1) shall be deducted on such income at the time of credit of rent, for the last month of the previous year or the last month of tenancy, i .....

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..... for the use of any land or building or both.] *********** Notes:- 1. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of June, 2017 2. Substituted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-07-2021 before it was read as section 206AA, such 3. Omitted vide Finance Act, 2022 w.e.f. 01-04-2022 before it was read as or section 206AB - .....

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