5% or 2% TDS on Rent in FY 2024-25? Here’s How to Claim a Refund for Overpaid TDS via TRACES

For FY 2024-25, TDS (Tax Deducted at Source) on rent is 5% or 2% based on the amount. The article explains how to claim overpaid TDS refunds via TRACES (Tax Information Network of the Income Tax Department). Understanding the correct TDS rate and refund process is vital for landlords and tenants for tax compliance and managing liabilities. TRACES facilitates viewing and claiming TDS credits.