Section 194-I → Section 215
TDS on Rent
Quick Answer
Section 194-I of the Income Tax Act, 1961 (TDS on Rent) corresponds to Section 215 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 194-I
Provision Summary
TDS @ 2% on plant/machinery and 10% on land/building/furniture if rent exceeds Rs. 2.4 Lakhs.
Sec 215
Provision Summary
Retained. Applies to businesses/auditable individuals paying rent.
Key Changes & Highlights
- Rate for rent of plant/machinery remains 2%.
Frequently Asked Questions
What does Section 194-I of the Income Tax Act 1961 deal with?
Section 194-I (TDS on Rent) TDS @ 2% on plant/machinery and 10% on land/building/furniture if rent exceeds Rs. 2.4 Lakhs.
What is the new section number for Section 194-I under the Direct Tax Code 2025?
Section 194-I of the ITA 1961 maps to Section 215 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 194-I under the new tax code?
Section 194-I is marked as "Retained" with status "Active". Impact: Critical - Major compliance for commercial tenants.
What are the key changes to Section 194-I under DTC 2025?
Rate for rent of plant/machinery remains 2%.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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