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of <h1>New Guidelines for Section 194-I: Rent Payment Tax Deductions Explained for Individuals and Entities.</h1> The circular clarifies the application of Section 194-I of the Income-tax Act, 1961, regarding tax deduction at source from rent payments. It specifies that tax must be deducted at 15% for individuals or Hindu undivided families, and 20% for others, unless the annual rent is below 120,000 rupees. Clarifications include: no tax deduction for advance rent paid before June 1, 1994; tax deduction required for non-refundable deposits, but not for refundable ones; warehousing charges are subject to tax deduction; municipal taxes borne by tenants are exempt from deduction; and the section applies to partial use of land or buildings.
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