TDS on Rent Payment u/s 194I: Limit Increased from Rs. 1,80,000 to 2,40,000 (Budget 2019)

TDS on Rent Payment u/s 194I: Limit Increased from Rs. 1,80,000 to 2,40,000 (Budget 2019)

While presenting the Budget 2019 for FY 2019-20, Finance Minister Sh Piyush Goyal has proposed to increase the threshold limit from Rs. 1,80,000 to 2,40,000 for TDS on Payment of Rent u/s 194I, i.e.  TDS threshold for deduction of tax on rent is proposed to be increased from Rs. 1.8 Lacs to Rs. 2.4 lacs for providing relief to small taxpayers.

In section 194-I of the Income-tax Act, in the first proviso, for the words “one hundred and eighty thousand rupees”, the words “two hundred and forty thousand rupees” shall be substituted.

Related Posts:

Union Budget India 2019-20/ Finance Bill, 2019 (Download PDF Copy)

Full Tax Rebate for Individuals having Income upto Rs. 5 lac (Budget 2019)

Standard Deduction increased from Rs. 40,000 to Rs. 50,000 (Budget 2019)

Section 54 Tax Benefit proposed to be Extended to Purchase/ Construction of 2 Houses

Second Self-occupied House Property proposed to be Exempted from Deemed Rental Income

TDS on Interest u/s 194A: Limit Increased from Rs. 10,000 to 40,000 (Budget 2019)

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