According to reports from Upstox Securities, when rent is paid to two joint owners, TDS under Section 194IB applies only when the total rent exceeds ₹50,000 per month. The tax deduction is calculated on the total rent amount, not on the individual share received by each owner. This means that if the combined rent received by both joint owners exceeds ₹50,000 per month, TDS becomes applicable regardless of whether each owner receives less than ₹50,000 individually.
As reported by Upstox Securities, the ₹50,000 threshold applies to the total rent amount, not per owner. This means that if rent is split between two joint owners and the combined amount exceeds ₹50,000 per month, TDS becomes mandatory. The threshold remains the same whether the rent is paid to two owners or to a single owner, making it crucial for landlords to understand the total rent implications when dealing with joint ownership arrangements.
According to Upstox Securities, TDS under Section 194IB becomes applicable when the total rent exceeds ₹50,000 per month, regardless of the number of owners. The tax deduction is calculated on the total rent amount and must be deducted at source by the landlord. This rule applies uniformly across all rental arrangements, whether the property is owned by one person or multiple joint owners, ensuring consistent tax compliance across different ownership structures.
