Rent withholding distinguishes non-specified and specified persons through asset-based rates and different deduction timing requirements. Rent withholding under Section 393(1), Table Sl. No. 2, applies a monthly threshold of Rs.50,000. Persons other than specified persons deduct TDS at 2% ... Summary
Rent withholding distinguishes non-specified and specified persons through asset-based rates and different deduction timing requirements.
Rent withholding under Section 393(1), Table Sl. No. 2, applies a monthly threshold of Rs.50,000. Persons other than specified persons deduct TDS at 2% and only in the last month of the tax year or tenancy, whichever is earlier. Specified persons deduct at the earlier of credit or payment: 2% for machinery, plant or equipment, and 10% for land, buildings, land appurtenant thereto, furniture or fittings.
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