TDS On Rent U/s 194-I and 194-C

1. Meaning of ‘Rent’ U/s 194-I and 194-C  2. Application of Sec. 194-I 3. TDS Deduction Under Sec. 194-I 4. No TDS deduction in certain cases:- 5. When tax needs to be deducted at source:- 6. Credit of rental income in “suspense account‟: 7. Rates of tax deduction:- 8. No deduction or deduction at lower rate under Sec. 197:- 9. Time limit within which tax is to be deposited. 10. Issue of TDS certificate to the payee:-

The person (not being an Individual or HUF) who is responsible for paying any income to resident by way of rent is liable to deduct tax at source in case the aggregate of the amount of such income credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to payee exceeds Rs. 1,80,000/-. Individuals and /or HUFs who are subject to tax audit are also under an obligation to deduct the tax at source. The limit of Rs. 1,20,000/- was enhanced to Rs. 1,80,000/- w.e.f. 1.7.2010.