Paying rent above Rs 50,000? You can be classified as assessee in default by income tax dept if you fail to deduct TDS

TDS on rent: ​According to a Income Tax Department brochure, Form 16C is a TDS certificate issued by a tenant to a landlord for rent payments, under Section 194-IB of the Income Tax Act. The tenant must deduct 5% TDS on rent payments exceeding Rs 50,000 per month. This form is filed after submitting Form 26QC and shows the TDS deducted.