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Government Proposes Higher TDS Threshold on Rent from 2.4 lakhs to 6 lakhs.

Increased TDS Limit on Rent

  • The annual threshold for TDS on rent will be raised from ₹2.4 lakh to ₹6 lakh.
  • Announced by the Finance Minister on February 1, 2025, during the Union Budget.

Relief for Small Taxpayers

  • Fewer rental transactions will be subject to TDS.
  • Beneficial for small taxpayers receiving lower rental income.

Amendment to Section 194-I of the Income Tax Act

  • Previously, TDS applied when annual rent exceeded ₹2.4 lakh.
  • New rule: TDS will now apply only if monthly rent exceeds ₹50,000.
  • Applicable to non-individuals and HUFs paying rent to a resident.
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