Rent Over ₹50,000? Tenants Must Deduct TDS by March 31 Deadline

• Tenants paying monthly rent exceeding ₹50,000 must deduct Tax Deducted at Source (TDS) under Section 194-IB.
• The effective deadline for TDS deduction is March 31, for the last month of the financial year or tenancy.
• Individuals and Hindu Undivided Families (HUFs) must deduct TDS at a 2% rate on rent paid to resident landlords.
• TDS must be deposited online using Form 26QC; tenants must provide Form 16C to the landlord within a month.
• Compliance ensures transparency in high-value rental transactions and helps avoid interest and penalties.