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IT / TDS

Tax Guide

AMENDED

TDS threshold on rent for individuals increased to ₹6 lakh per year

Key mapping

Budget 2024 increased the TDS threshold on rent paid to a landlord from ₹2.4 lakh per year to ₹6 lakh per year, effective from 1 October 2024.

Explanation

Under old Section 194I (now Code 1029/1030 in IT Act 2025 §393), TDS on rent was triggered when annual rent paid to a single landlord exceeded ₹2,40,000. Budget 2024 increased this threshold to ₹6,00,000 per year, effective 1 October 2024. This reduces compliance burden for small lessors and tenants. For Code 1031 (individual/HUF paying rent to landlord), the threshold remains ₹50,000 per month. Verify on the income-tax portal before filing.

Related terms and sections

194I10291030rent threshold6 lakh2.4 lakhTDS on rentBudget 2024

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File My ITR →Tax Calculator →

Related sections

IT Act 2025 Section Mapper →All IT Act changes →

All section references are sourced from the Income Tax Act 2025 (official gazette, incometaxindia.gov.in) and cross-referenced against CBDT's comparative statement. Always verify on the official portal before filing. This page is for reference only and does not constitute legal or tax advice.