Section 194IB - TDS on payment of rent by certain individuals or Hindu undivided family

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..... paying to a resident any income by way of rent exceeding 50,000 rupees for a month or part of a month during the previous year, shall deduct an amount equal to 5%. of such income as income-tax thereon. Exception:- An individual or a Hindu undivided family, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed ₹ 1 crore in case of business or .....

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..... x is required to be deducted as per the provisions of section 206AA , (i.e PAN is not provided by the recipient of the rent) such deduction shall not exceed the amount of rent payable for the last month of the previous year or the last month of the tenancy, as the case may be. (5) No requirement for deducting tax, if rent does not exceeds Rs. 50,000 or Individual or HUF covered u/s 194-I . Explana .....

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