Tag Archives: Rent

TDS on rent of 50000 per month

If you are an individual, taken a house / flat on a monthly rent of Rs.50000, you have to deduct tax (TDS) at the rate of 5% and pay it to the government. Are you aware of this TDS provision on Rent? If not, here you go- A new Section …

Read More »

12 points to know about TDS on Rental Income

Letting of property attracts TDS provisions, with certain exceptions. Some of the commonly asked questions about TDS on rental income are summarized below. In case, readers have any other questions, please mention in the comment section.   Limit of Rs.180000 – In case, any property – residential or commercial is …

Read More »

13 things to know about House Rent Allowance

  House Rent Allowance (HRA) is an allowance (part of the salary) given by an employer to an employee to meet the cost of renting a home. HRA is a taxable receipt in the hands of the employee. However, section 10(13A) of the Income Tax Act grants exemption in respect …

Read More »