Businesses paying rent above the annual threshold must deduct TDS under section 194-I, while individuals paying high monthly rent fall under section 194-IB.
Payments to contractors attract TDS under section 194C at 1% for individuals/HUFs and 2% for others.
Deposit TDS by the 7th of next month and file quarterly returns to avoid interest and late fees.
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This article is for general information only and is not professional advice. Tax rules change; consult us for your specific case.