Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Income-tax and Corporate Tax Planning Income-tax
Under Sec. 194 IB of the Income Tax Act, 1961 an individual or HUF (who is not required to get his accounts audited u/s 44 AB) who is responsible for paying to a resident any rent, shall deduct income tax, for the use of any land and building or both, if the rent exceeds
1
Rs. 50,000 per month
2
Rs. 40,000 per month
3
Rs. 25,000 per month
4
Rs. 15,000 per month