TDS Applicability in case of Rent Paid

CBDT notified that TDS on Rent u/s 194Ib in the Income Tax Act under which, any person (including Individual/HUF to whom requirement of the tax audit is not applicable) paying rent of Rs 50,000 or more per month must deduct TDS at 5% (w.e.f 01.06.2017). 

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