Section 194IB

TDS Rate Chart for AY 2019-20 / FY 2018-19

Income Tax - TDS Rate Chart or TDS Rate Table For Assessment year 2019-20 (AY) / Financial Year (FY) 2018-19 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after consideri...

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TDS on Payment of rent by certain individuals or Hindu undivided family (HUF)

Income Tax - The Finance Minister while presenting budget for the year 2017-18 inserted a new provision i.e. section 194 IB under The Income-tax Act,1961, (The Act) to provide for Tax Deduction at Source (TDS) at the rate of 5 percent by an individual or HUF, other than those whose books of account are required to be audited, while making payment of r...

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TDS on individual paying rent more than 50 Thousand

Income Tax - Earlier, only individuals and HUFs who were mandatorily required to have their accounts audited as per the tax laws were required to withhold tax on rental payments on immovable property. However, with the introduction of this new section, all individuals and HUFs...

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TDS on Rent Under Section 194IB of Income Tax

Income Tax - Finance Act 2017 introduced section 194IB which mandates deduction of TDS when rent payment exceeding Rs 50000 for month or part of the month is made. Even Salaried person paying rent more than Rs. 50,000 P.M and claiming HRA are required to deduct and pay TDS of Landlord...

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Section 194-IB TDS on Rent of Property with FAQs

Income Tax - The Finance Act, 2017 has introduced section 194-IB providing that Tenant of a property making monthly rent payment exceeding ₹ 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord....

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Section 194-IB– TDS if monthly rent increases during the previous year

Income Tax - The Finance Act, 2017 inserted new section 194-IB to provide that an Individual or a HUF (other than those covered under clause (a) & (b) of section 44AB of the Act), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of month during the previous year, shall deduct an amount ...

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Corrigendum to Income Tax Notification No. 48/2017

Notification No. 55/2017-Income Tax - (23/06/2017) - In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 48/2017, dated the 8th June, 2017, published vide number G.S.R. 561(E), dated the 8th June, 2017, in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section...

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Recent Posts in "Section 194IB"

TDS Rate Chart for AY 2019-20 / FY 2018-19

TDS Rate Chart or TDS Rate Table For Assessment year 2019-20 (AY) / Financial Year (FY) 2018-19 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after consideri...

Read More
Posted Under: Income Tax |

TDS on Payment of rent by certain individuals or Hindu undivided family (HUF)

The Finance Minister while presenting budget for the year 2017-18 inserted a new provision i.e. section 194 IB under The Income-tax Act,1961, (The Act) to provide for Tax Deduction at Source (TDS) at the rate of 5 percent by an individual or HUF, other than those whose books of account are required to be audited, while making payment of r...

Read More
Posted Under: Income Tax |

TDS on individual paying rent more than 50 Thousand

Earlier, only individuals and HUFs who were mandatorily required to have their accounts audited as per the tax laws were required to withhold tax on rental payments on immovable property. However, with the introduction of this new section, all individuals and HUFs...

Read More
Posted Under: Income Tax |

Section 194-IB– TDS if monthly rent increases during the previous year

The Finance Act, 2017 inserted new section 194-IB to provide that an Individual or a HUF (other than those covered under clause (a) & (b) of section 44AB of the Act), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of month during the previous year, shall deduct an amount ...

Read More
Posted Under: Income Tax |

TDS on Rent Under Section 194IB of Income Tax

Finance Act 2017 introduced section 194IB which mandates deduction of TDS when rent payment exceeding Rs 50000 for month or part of the month is made. Even Salaried person paying rent more than Rs. 50,000 P.M and claiming HRA are required to deduct and pay TDS of Landlord...

Read More
Posted Under: Income Tax |

Section 194-IB TDS on Rent of Property with FAQs

The Finance Act, 2017 has introduced section 194-IB providing that Tenant of a property making monthly rent payment exceeding ₹ 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord....

Read More
Posted Under: Income Tax |

Corrigendum to Income Tax Notification No. 48/2017

Notification No. 55/2017-Income Tax (23/06/2017)

In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 48/2017, dated the 8th June, 2017, published vide number G.S.R. 561(E), dated the 8th June, 2017, in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), at page 8, in Form No. 26QC-...

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