Rent withholding change reduces landlords' tax withholding obligations for specified individual payers, effective later in the year. Clause 59 proposes to amend section 194-IB to lower the withholding rate for tax deduction at source on rent paid by an individual or HUF where monthly ... Summary
Rent withholding change reduces landlords' tax withholding obligations for specified individual payers, effective later in the year.
Clause 59 proposes to amend section 194-IB to lower the withholding rate for tax deduction at source on rent paid by an individual or HUF where monthly rent exceeds the statutory threshold, with the reduced rate taking effect from 1st October, 2024.
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