New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    The rate of TDS for Rent of Land and Building, Land appurtenant to a building is:

    A 5% Correct Answer Incorrect Answer
    B 12% Correct Answer Incorrect Answer
    C 2% Correct Answer Incorrect Answer
    D 10% Correct Answer Incorrect Answer

    Solution

    Under Section 194-I of the Income-tax Act, the rent payer needs to deduct a 10 percent TDS on any building or land. The TDS is levied if the rent paid exceeds Rs 2,40,000 per year. Individuals and Hindu Undivided Family (HUF) must deduct five percent TDS on rent if the amount exceeds Rs 50,000 per month.

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