Rent TDS: Rs 50,000 limit applies per tenant, not property total

• * TDS on rent is governed by Section 194IB of the Income Tax Act.
• * The 50,000 INR monthly rent limit for TDS applies per tenant, not per property.
• * If a tenant pays over 50,000 INR per month, 2% TDS must be deducted.
• * TDS is deducted in March or upon tenancy termination, using Form 26QC on the Income Tax portal without needing a TAN.
• * Tenants paying 40,000 INR each for a shared property do not need to deduct TDS as their individual rent is below the 50,000 INR limit.

Why It Matters: Clarifies rent TDS rules, impacting tenants and landlords' tax duties.