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of <h1>Finance Bill 2010: Amendment to Section 194-I Raises Rent Tax Deduction Threshold to 180,000 Rupees</h1> Clause 40 of the Finance Bill, 2010 proposes an amendment to section 194-I of the Income-tax Act, which pertains to rent. The amendment seeks to increase the threshold for non-deduction of income tax on rent from 120,000 rupees to 180,000 rupees. This means that no tax deduction at source will be required if the total rent paid or credited during a financial year does not exceed 180,000 rupees. The amendment is scheduled to take effect on July 1, 2010.
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