TDS on resident rent differentiates deduction timing and rates between specified persons and other payers based on leased assets. Section 393(1) requires TDS on resident rent exceeding Rs.50,000 for a month or part of a month. Persons other than specified persons deduct tax at 2%, ... Summary
TDS on resident rent differentiates deduction timing and rates between specified persons and other payers based on leased assets.
Section 393(1) requires TDS on resident rent exceeding Rs.50,000 for a month or part of a month. Persons other than specified persons deduct tax at 2%, only at the earlier of credit or payment for the last month of the tax year or tenancy, whichever is earlier. Specified persons deduct at the earlier of credit or payment, at 2% for machinery, plant or equipment and 10% for land, buildings, appurtenant land, furniture or fittings. Section 393(4) provides an exception for no deduction of tax.
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