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Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

07 Jul 2025 08:30 AM 541 views

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

Check These Points Before Filing Your ITR With Form 16

Filing your Income Tax Return (ITR) can be a complex task, especially if you're doing it without professional help. For salaried individuals, Form 16 is a crucial document that simplifies the process by providing details of salary earned and the tax deducted at source (TDS). If you've received your Form 16 and are preparing to file your ITR, it's important to first review the form thoroughly to ensure accuracy.

Finance & Economics

26 Jun 2025 10:15 AM 544 views

Check These Points Before Filing Your ITR With Form 16

Filing your Income Tax Return (ITR) can be a complex task, especially if you're doing it without professional help. For salaried individuals, Form 16 is a crucial document that simplifies the process by providing details of salary earned and the tax deducted at source (TDS). If you've received your Form 16 and are preparing to file your ITR, it's important to first review the form thoroughly to ensure accuracy.

Finance & Economics

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled Income Tax Return (ITR) forms, introduced by the Income Tax Department, are designed to make tax filing simpler for individuals by auto-filling key financial details. These forms collect data from reliable sources such as your PAN, Aadhaar, Form 16 issued by employers, Form 26AS, and the Annual Information Statement (AIS) to pre-load income, tax paid, deductions claimed, and bank account information. However, despite the convenience, these pre-fille

Business

23 Jun 2025 06:59 AM 868 views

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled Income Tax Return (ITR) forms, introduced by the Income Tax Department, are designed to make tax filing simpler for individuals by auto-filling key financial details. These forms collect data from reliable sources such as your PAN, Aadhaar, Form 16 issued by employers, Form 26AS, and the Annual Information Statement (AIS) to pre-load income, tax paid, deductions claimed, and bank account information. However, despite the convenience, these pre-fille

Business

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Starting April 1, 2025, taxpayers can begin filing their Income Tax Returns (ITR) for the Assessment Year (AY) 2025-26. Employers will provide Form 16 to salaried employees, which plays a crucial role in filing ITR by summarizing salary details, Tax Deducted at Source (TDS), and other tax-related information for the Financial Year (FY) 2024-25. Understanding Form 16, its contents, and its significance can help taxpayers ensure a smooth and error-free filing process.

Business

13 Mar 2025 07:32 AM 2.14k views

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Starting April 1, 2025, taxpayers can begin filing their Income Tax Returns (ITR) for the Assessment Year (AY) 2025-26. Employers will provide Form 16 to salaried employees, which plays a crucial role in filing ITR by summarizing salary details, Tax Deducted at Source (TDS), and other tax-related information for the Financial Year (FY) 2024-25. Understanding Form 16, its contents, and its significance can help taxpayers ensure a smooth and error-free filing process.

Business

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#form16

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Check These Points Before Filing Your ITR With Form 16

Check These Points Before Filing Your ITR With Form 16

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled ITR Form Mistakes You Must Avoid This Year

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Impact of Aerodynamics on Vehicle Efficiency

Atmospheric river brings heavy rain, strong winds and disruptions across Bay Area

South Korean Jeju Air Jet Crashes at Muan Airport, Killing 179 People

Diplomatic Rift Deepens: India Rebukes Canada’s Election Interference Allegations

Windows 10 End Of Support In 2025 Sparks Consumer Backlash Over Security Risks

Israeli Airstrikes Hit Syria as Netanyahu Denies Corruption Charges

US election: Why is Kamala Harris losing Indian American voters?

Freezing fog and icy roads create hazardous Tuesday commute in Chicago

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Impact of Aerodynamics on Vehicle Efficiency

Atmospheric river brings heavy rain, strong winds and disruptions across Bay Area

South Korean Jeju Air Jet Crashes at Muan Airport, Killing 179 People

Diplomatic Rift Deepens: India Rebukes Canada’s Election Interference Allegations

Windows 10 End Of Support In 2025 Sparks Consumer Backlash Over Security Risks

Israeli Airstrikes Hit Syria as Netanyahu Denies Corruption Charges

US election: Why is Kamala Harris losing Indian American voters?

Freezing fog and icy roads create hazardous Tuesday commute in Chicago

Chicago Cubs lose Miguel Amaya to ankle injury after return from oblique strain

How Diet Affects Insulin Sensitivity in Children: Foods to Avoid and Healthy Choices

#form16

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Check These Points Before Filing Your ITR With Form 16

Check These Points Before Filing Your ITR With Form 16

Pre-filled ITR Form Mistakes You Must Avoid This Year

Pre-filled ITR Form Mistakes You Must Avoid This Year

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Income Tax Filing for AY 2025-26: Form 16, ITR Process, and What to Do if Form 16 is Delayed

Impact of Aerodynamics on Vehicle Efficiency

Atmospheric river brings heavy rain, strong winds and disruptions across Bay Area

South Korean Jeju Air Jet Crashes at Muan Airport, Killing 179 People

Diplomatic Rift Deepens: India Rebukes Canada’s Election Interference Allegations

Windows 10 End Of Support In 2025 Sparks Consumer Backlash Over Security Risks

Israeli Airstrikes Hit Syria as Netanyahu Denies Corruption Charges

US election: Why is Kamala Harris losing Indian American voters?

Freezing fog and icy roads create hazardous Tuesday commute in Chicago

Chicago Cubs lose Miguel Amaya to ankle injury after return from oblique strain

How Diet Affects Insulin Sensitivity in Children: Foods to Avoid and Healthy Choices

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