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Paying rent above Rs 50,000? You can be classified as assessee in default by income tax dept if you fail to deduct TDS

The Income Tax Department has released a new brochure explaining Section 194-IB which relates to obligations of a tenant to pay Tax Deducted at Source (TDS) by deducting it from house rent. This ...
The Financial Express

Income Tax efiling: All that you need to know about TDS on rent and consequences of non-compliance

TDS on rent is applicable for both rented-out commercial and residential properties. The government through the Union Budget 2017 (applicable to FY 2017/18) had inserted a new Section 194-IB to the ...
Indiatimes

Is your rent more than Rs 50k? Now you have to deduct TDS on the rent paid; details here

Since a few years now, the Income Tax (IT) Department has been making protocols with respect to realty transactions, making it much more stringent. From registering rental agreements with the correct ...
Mint

For 2017-18, tenants need to deposit tax collected at source by end of April 2018

As amended in the Finance Act 2017, a tenant (individual or Hindu Undivided Family (HUF)) paying house rent of more than Rs50,000 a month needs to deduct tax from the rent. Such collection of tax by a ...
Zee Business

Last date for filing ITR - TDS/TCS: Taxpayers must know these important deadlines

An important update for all tax payers. The income tax department has extended the due dates for filing the TDS/TCS related compliance. See the nature of compliance and the new due dates notified by ...