The rental amount varies from property to property and has many conditions. If the rental property is a warehouse or any other big industrial area for commercial use, in that case, the monthly rent might be higher than Rs.1000000. But if the property lies under the rent control zone then the rental value can not exceed more than the amount fixed by the Rent Control Act.
As per Income Tax 1961 under section
194-I, when the payment for rental income incurred in the financial year is around Rs.1000000, then the maximum limit of TDS is Rs. 2,40,000 for an individual owner of the property.
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Authors Of The Question
Does a let out property with monthly rent more than Rs.1000000/- attract extra TDS?
D S Shelatkar
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1
3 Year
2021-07-05T09:26:43+00:00 2021-07-13T16:25:41+00:00Comment
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