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of <h1>Individuals or HUFs must deduct 5% tax on monthly rent over Rs. 50,000 under Section 194-IB.</h1> Under section 194-IB, if an individual or HUF not subject to audit under section 44AB pays rent exceeding Rs. 50,000 per month to a resident, they must deduct tax at 5% on the rent. This limit applies separately to each co-owner if rent is paid individually. For instance, if rent of Rs. 1,00,000 is paid to two co-owners, with Rs. 70,000 to one and Rs. 30,000 to the other, tax must be deducted on the Rs. 70,000 payment, as it exceeds the Rs. 50,000 threshold, but not on the Rs. 30,000 payment.
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