Jointly Owned Property: Is TDS Applicable if Total Rent Exceeds Rs 50,000?

• Confusion arises for tenants on TDS applicability for jointly owned properties if combined rent crosses Rs 50,000.
• Section 194IB mandates 2% TDS deduction if monthly rent to a resident exceeds Rs 50,000.
• TDS deduction is for each recipient of rent, not for the property itself.
• If rent paid to each co-owner is below Rs 50,000, TDS is not required.
• Rent splitting between co-owners should reflect their contribution to the property cost to avoid tax issues.