Income Tax Department advisory to deduct and pay TDS on rent u/s 194IB under which individual/HUF are obliged to deduct if rent exceeds Rs. 50000/- per month. In order to widen the scope of tax deduction at source, the Finance Act, 2017 w.e.f. 1st June, 2017 has inserted …
TDS on Rent us 194IB-Quarterly return Form 26QC and TDS certificate Form No. 16C notified for individuals/huf not covered under tax audit and paying rent exceeding Rs. 50000/- p.m. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 48/2017 New Delhi, the 8th June, …
TDS on Rent liability for assessee not covered under tax audit. New section 194IB for monthly rent exceeding Rs. 50000/-. TAN not required Budget 2017-18 : Deduction of tax at source in the case of certain Individuals and Hindu undivided family. The existing provisions of section 194-I of …
