Income Tax Tax on Monthly Rent

Paying Rent Above ₹50,000 per Month? Section 194-IB and 2% TDS on Rent Explained

If you are paying rent of more than ₹50,000 per month, then Section 194-IB of the Income Tax Act applies to you. Under this rule, you (the tenant) are responsible for deducting 2% TDS on the annual rent and depositing it with the government. Many tenants don’t know about this and later face penalties and […]