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of <h1>Entities Must Deduct Tax on Rent Payments Under Section 194-I; Exemptions Apply to Specific Trust Transactions Under Section 10(23FCA).</h1> Any person, except an individual or Hindu Undivided Family (HUF), responsible for paying rent must deduct tax at source under section 194-I. However, individuals or HUFs engaged in business or profession with turnover exceeding Rs. 1 crore or gross receipts over Rs. 50 lakhs are also liable. No deduction is required if the rent is paid to a real estate investment trust for real estate assets owned directly by the trust, as specified in clause (23FCA) of section 10.
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