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