TDS on Rent paid to NRI
Living in Mumbai, paying 72k rent per mont rent to an NRI owner. Someone told me I need to deduct TDS when my owner is NRI.
- How much TDS needs to be deducted?
- Can I do it at year end before March 31st?
- How many people actually know this and are doing it?
- Why is govt not able to deduct it?
- What if I fail to do so?
Side note* My husband says it's the owner's problem not ours and he needs to do it but the internet says it's mine.
ETA - Thank you everyone for your responses. I went through the rent agreement and it clearly mentions that my owner is an Indian Inhabitant and no where it is mentioned that he is an NRI. Now what are the TDS rules and how frequently do I need to cut it? My rent is > 50k.