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Whether limit of Rs. 50,000 per month under section 194-IB is applicable to each of the co-owners separately in case rent is paid individually to co-owners?

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....come Tax - Frequently Asked Questions (FAQs)<br>Income Tax<br>Ans. As per the section 194IB, an individual or HUF whose books of account are not liable for audit u/s 44AB, paying rent to a resident ex....

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....refore, limit of Rs. 50,000 is applicable for each co-owner separately, if rent is paid to co-owners of the property. For Example: Mr. A is making payment of rent of Rs. 1,00,000 per month to Mr. B &....

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