Section 194-IB of Finance Act 2017 dictates that an individual will have to pay TDS on rent if the rent paid amounts to Rs. 2,40,000 or more annually.
Before telling you how to pay TDS on Rent online, I would like to share the TDS deduction rates with you.
TDS percentage payable for plant/ equipment/ machinery: 2% of the rent paid
TDS percentage payable for land/ building/ furniture/ fittings: 10% of the rent amount paid, 5% `50,000 is paid per month as rent.
To pay TDS on rent online using Form 26QC, follow the steps given below:
Go to the official TIN website, i.e.
www.tin-nsdl.com
Fill in the application form and enter all the required details such as details of transaction, name of the tenant, etc.
Make the online payment through e-tax payment option via netbanking, credit card or debit card.
Don’t forget to take acknowledgement numbers after successful payment.
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Authors Of The Question
How to pay TDS on rent online?
Jatin
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1 Answers
3 Year
2021-03-22T14:36:03+00:00 2021-03-22T14:49:43+00:00Comment
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