Section 194IB - TDS on payment of rent by certain individuals or Hindu undivided family

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..... e referred to in the second proviso to section 194-I ), responsible for paying to a resident any income by way of rent exceeding 50,000 rupees for a month or part of a month during the previous year, shall deduct an amount equal to 5%. of such income as income-tax thereon. (2) Time of deduction of tax at source: The income tax referred in sub section (1), shall be deducted on such income- at the t .....

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..... HUF covered u/s 194-I . Explanation .-For the purposes of this section, rent means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any land or building or both. Example:- Mr. X a salaried Individual, pays rent of ₹ 55,000 per month to Mr. y from June 2023 to Dec. 2023. Is he required to deduct TDS? If he is vacate .....

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