What does increased TDS limit of ₹6 lakh on rent mean?

Union Budget increases annual exemption limit for TDS on rent from ₹2.40 lakh to ₹6 lakh. It means that if someone rents out a property and earns less than ₹6 lakh annually, they won't have to worry about TDS deductions from rental income. It also benefits tenants paying lower rent amounts as it reduces compliances linked to deducting, remitting TDS.