Under Section 194IB of the Income Tax Act, 196, individuals and HUFs must deduct 2 percent TDS on rent if the monthly amount ...

The Bombay High Court ruled that limitation under Section 201(3) must be calculated based on the financial year in which each quarterly TDS statement is filed. The decision confirms that annual or ...

If you pay more than ₹50,000 in monthly rent, there is an important income tax rule that every tenant in India should know. Under Section 194-IB of the Income Tax Act, tenants paying rent above this ...

The Delhi High Court held that the Assessing Officer cannot deny refund interest by attributing delay to the assessee. The decision clarified that only higher authorities specified in Section 244A(2) ...

Many people living in rented houses focus mainly on paying monthly rent on time, but very few are aware that income tax rules ...

Tenants paying over Rs 50,000 monthly rent must adhere to the tax deduction at source (TDS) rule under Section 194-IB of the Income Tax Act, 1961.

Draft Income-Tax Rules 2026 aim for voluntary compliance but require crucial changes to prevent taxpayers from paying twice. Key issues include protecting deductees from deductor defaults, ...

In its post-Budget memorandum on the Finance Bill 2026, the Bombay Chartered Accountants’ Society (BCAS) has urged the ...