Transit Rent Not Taxable: Developers' TDS Deductions on Tenant Allowances Exempt from Taxation Under Income Tax Act. https://www.taxtmi.com/highlights?id=77097 TDS u/s 194I - Transit Rent payable by the developer/ builder as Hardship Allowance / Rehabilitation Allowance / Displacement Allowance - Hardship due to dispossession - After considering Section 194(I) of the Income Tax Act and the arguments presented along with relevant ITAT decisions, the court ruled that "transit rent" should not be considered as a revenue receipt and is not liable to be taxed. Therefore, there is no requirement for TDS deduction from the amount payable by the developer to the tenant. en-us Fri, 03 May 2024 09:58:45 +0530 Fri, 03 May 2024 09:58:45 +0530 TaxTMI RSS Generator Transit Rent Not Taxable: Developers' TDS Deductions on Tenant Allowances Exempt from Taxation Under Income Tax Act. https://www.taxtmi.com/highlights?id=77097 TDS u/s 194I - Transit Rent payable by the developer/ builder as Hardship Allowance / Rehabilitation Allowance / Displacement Allowance - Hardship due to dispossession - After considering Section 194(I) of the Income Tax Act and the arguments presented along with relevant ITAT decisions, the court ruled that "transit rent" should not be considered as a revenue receipt and is not liable to be taxed. Therefore, there is no requirement for TDS deduction from the amount payable by the developer to the tenant. Highlights Income Tax Fri, 03 May 2024 09:58:45 +0530 https://www.taxtmi.com/highlights?id=77097