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What is tds rate on rent?

April 26, 2017Business Finance India rate rent taxes TDS

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What is tds rate on rent?

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Under sec.194(i) Rent paid for a. Land b. Buildings c. Land appurtenant to a building(including factory building) d. Plant & Machinery e. Equipment f. Furniture & Fittings is more than Rs.1,20,000 in a financial year, then TDS will apply. The % of deduction will be 15.45% for Individual & HUF and 20.6% for Others. (Tax % includes education cess 3%) If the occupant (who is paying the rent) is an individual or HUF who is not subject to tax audit u/s 44AB, then the occupant will not deduct any TDS on the rent. http://www.incometaxbangalore.org/taxinf…