If the rent for a month or part of the month exceeds Rs.50,000 during the financial year for other than individuals or HUF covered under section 194I i.e who are not involved in any business or profession means other than tax audit persons. Upto 01-10-2024 TDS rate is 5%, w.e.f 01-10-2024 TDS rate is 2%. The applicable TDS rate under Section 194I was 5% up to 01-10-2024, and with effect from 01-10-2024, the TDS rate has been reduced to 2%. Timely TDS Return Filing Online and compliance with applicable TDS provisions help deductors avoid interest, penalties, and other consequences under the Income Tax Act.