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 ...

When a young Mumbai-based couple bought an apartment from a seller who resides outside India, they ensured that they fully complied with the rules on tax deducted at source (TDS). They deducted the ...

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 ...

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 ...

In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh ...

The government last year introduced Section 194IB of the I-T Act, which makes it mandatory that individuals and HUFs who are paying rent of more than Rs 50,000 per month have to deduct 5% of the rent ...

Union Finance Minister Nirmala Sitharaman on Tuesday (July 23) presented her seventh consecutive budget of the Modi 3.0 in Lok Sabha with several important changes to the Tax Deducted at Source (TDS) ...

ITR filing season: If you are filing ITR and taking tax exemption under HRA, there are four documents that you need to keep safe. It is because some people also commit fraud in this, due to which if ...