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 annual limit for Tax Deducted at Source or TDS on rent will be increased from ₹2.40 lakh to ₹6 lakh, announced finance minister Nirmala Sitharaman while presenting the Union Budget 2025 on ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Tax deduction at source (TDS) or ...