The Income Tax Department is sending notices to salaried taxpayers who claimed House Rent Allowance (HRA) but did not deduct tax at source (TDS) on rent payments in past financial years. The notices ...

Certain payments made by individuals attract tax deduction at source (TDS), but many are unaware of it. For instance, 2% TDS applies to rent exceeding ₹50,000 per month, 1% on property purchases above ...

You pay your rent diligently each month, file your income tax returns on time, and even claim your House Rent Allowance (HRA). But suddenly, an unexpected Income Tax Notice arrives, questioning your ...

Paying rent for your home is a regular expense, but if it amounts to more than Rs 50,000 per month, the Income Tax Department expects you to play a small part in tax compliance - by deducting TDS (Tax ...

A lot of people who move to metros or other big cities often face difficulties when renting accommodation. Many times, they don’t feel confident negotiating terms and conditions with landlords. This ...

The government last year introduced Section 194IB of the I-T Act, which makes it mandatory that individuals and HUFs who are paying rent of more than Rs 50,000 per month have to deduct 5% of the rent ...