TDS on rent above Rs 50,000 is not a rule most salaried tenants in Indian metros think about. It should be — because the Income Tax Department is now actively tracking it, and the March 31 deadline just passed. Under Section 194IB of the Income Tax Act, tenants paying more than Rs 50,000 per month…
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TDS on rent above Rs 50,000 is one of those obligations that catches Indian tenants completely off guard — especially in metros, where paying Rs 60,000 or Rs 70,000 a month in rent is not unusual, and where the financial year end arrives faster than most people plan for. If you are a salaried individual…