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of <h1>Individuals and HUFs must deduct 2% TDS on monthly rent over Rs.50,000, at last month credited or paid</h1> An individual or Hindu undivided family (subject to specified exclusions) paying rent exceeding Rs.50,000 per month to a resident must deduct 2% tax at source on such rent; deduction is made at the time of credit or payment for the last month of the previous year or last month of tenancy, whichever is earlier. Certain provisions about deductor registration do not apply, and where special higher withholding rules would otherwise apply, the deducted amount cannot exceed the rent payable for that last month. 'Rent' covers payments under leases, sub-leases, tenancies or similar arrangements for land or buildings.
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