Section 194R

Section 194R TDS on reimbursement of freight, out of pocket expenses etc

Income Tax - In Finance Act, 2022 new section 194R inserted for deduction of tax at source on benefit or perquisite in respect of business or profession....

Read More

TDS under section 194R on free sample, foreign trips, gifts to effect Doctors & others

Income Tax - Tax will now be deducted under section 194R on free sample, foreign trips, gifts. Doctors and others will be affected....

Read More

Section 194R – Interest-Free Loan, ‘Henry VIII’ Clause & Others

Income Tax - This Article covers a few challenging aspects of Section 194R apart from the ‘HENRY VIII Clause’ approach being adopted by the tax department in the recent years, among others....

Read More

TDS under Section 194R & Section 194S of Income Tax Act, 1961

Income Tax - The Finance Bill 2022 has proposed two completely new TDS sections, 194R and 194S, in the Income Tax Act, to be made effective from 1.7.2022. Looking at the swift pace, with which the new TDS sections, are being inserted by the Legislature, year after year, in Chapter XVIIB of the Income Tax Act, 1961, it […]...

Read More

Section 194R – Double Taxation/Entry of FBT from back door?

Income Tax - Applicability of Section 194R of Income tax Act 1961, is it Double Taxation / Entry of Fringe Benefit Tax (FBT) from the back door / Collection of Additional Revenue or is it the ‘Ease of doing business? Section 194R of Income tax Act 1961 Any person responsible for providing to a resident, any benefit or […]...

Read More
Sorry No Post Found
Sorry No Post Found

CBDT notifies revised/new TDS Returns for TDS under section 194R, 194S

Notification No. 67/2022-Income Tax, [G.S.R. 463(E).] - (21/06/2022) - AMENDMENT TO RULE 30, 31, 31A AND FORM 26Q, 26QB, 26QC AND 26QD AND INSERTION OF NEW FORM 16E AND 26QE TO INCOME TAX RULES, 1962 Vide Notification No. 67/2022-Income Tax (Income-tax (19th Amendment) Rules, 2022) CBDT amended Income Tax Rule 30 and 31A, Inserted new Form No. 16E – Certificate ...

Read More

Section 194R of Income-tax Act, 1961 – Guidelines & FAQs

Circular No. 12 of 2022 - (16/06/2022) - CBDT issued Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961 vide Circular No. 12 of 2022-Income Tax | Dated 16th, June, 2022. F. No. 370142/27/2022-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Tax...

Read More

Recent Posts in "Section 194R"

Section 194R TDS on reimbursement of freight, out of pocket expenses etc

In Finance Act, 2022 new section 194R inserted for deduction of tax at source on benefit or perquisite in respect of business or profession....

Read More
Posted Under: Income Tax |

TDS under section 194R on free sample, foreign trips, gifts to effect Doctors & others

Tax will now be deducted under section 194R on free sample, foreign trips, gifts. Doctors and others will be affected....

Read More
Posted Under: Income Tax |

Section 194R – Interest-Free Loan, ‘Henry VIII’ Clause & Others

This Article covers a few challenging aspects of Section 194R apart from the ‘HENRY VIII Clause’ approach being adopted by the tax department in the recent years, among others....

Read More
Posted Under: Income Tax |

TDS under Section 194R & Section 194S of Income Tax Act, 1961

The Finance Bill 2022 has proposed two completely new TDS sections, 194R and 194S, in the Income Tax Act, to be made effective from 1.7.2022. Looking at the swift pace, with which the new TDS sections, are being inserted by the Legislature, year after year, in Chapter XVIIB of the Income Tax Act, 1961, it […]...

Read More
Posted Under: Income Tax |

Section 194R – Double Taxation/Entry of FBT from back door?

Applicability of Section 194R of Income tax Act 1961, is it Double Taxation / Entry of Fringe Benefit Tax (FBT) from the back door / Collection of Additional Revenue or is it the ‘Ease of doing business? Section 194R of Income tax Act 1961 Any person responsible for providing to a resident, any benefit or […]...

Read More
Posted Under: Income Tax |

Liability to deduct section 194R TDS on Benefit or Perquisite in Business or Profession

Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, is liable w.e.f. 1-7-2022 to deduct TDS U/s 194R @ 10% on the value or aggregate value of such benefit or perquisite....

Read More
Posted Under: Income Tax |

TDS u/s 194R i.e. TDS on providing benefit/perquisites

Section 194R TDS on providing benefits or perquisites Hello professionals, So a new section is introduced i.e. section 194R, so let’s decode this section by a simple Q&A. Question-1: Who is responsible to deduct TDS u/s 194R? Answer-Any person who provides any benefit or perquisite to a resident where value or aggregate value of suc...

Read More
Posted Under: Income Tax |

Crux of TDS under Section 194R of Income Tax Act, 1961

Section 194R- Crux of Deduction of Tax On Benefit or Perquisite In Respect of Business or Profession MY OPINIONS ON 194R- DEDUCTION OF TAX ON BENEFIT OR PERQUISITE IN RESPECT OF BUSINESS OR PROFESSION: 1. Applicability: Any person includes all types of Assessee. 2. Rate of Tax: 10% of the Value or aggregate of value […]...

Read More
Posted Under: Income Tax |

Section 194R of Income-Tax Act, 1961: More complications to Ease of Doing Business

Central Board of Direct Taxes (CBDT) has issued circular No.12 of 2022 dated 16 June 2022. In this circular the CBDT has given guidelines to regulate the implementation of TDS provisions of new section 194R with respect to the amount of benefits or perquisites arising to any resident from the business or exercise of profession. Clause [&...

Read More
Posted Under: Income Tax |

Section 194R- Is the Issue Resolved?

Vide Budget 2022, the Government has introduced Section 194R in the Income Tax Act,1961 (ITA) obligating the deduction of tax on ‘benefits/perquisites whether convertible into money or not, arising from business or of a profession’  if the aggregate value of benefit/perquisite exceeds twenty thousand rupees in a financial yea...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (6,104)
Company Law (8,419)
Corporate Law (10,378)
Custom Duty (9,341)
DGFT (4,825)
Excise Duty (4,785)
Fema / RBI (5,254)
Finance (5,636)
Income Tax (41,975)
SEBI (4,531)
Service Tax (4,002)