Goods and Services Tax : Section 194R mandates 10% TDS on benefits over ₹20,000 annually. Learn its impact on accounting, compliance, and the challenges ...
Income Tax : Explore the implications of TDS on expense reimbursements post-Section 194R implementation and understand the invoicing criteria....
Income Tax : Discover Section 194R introduced by the Finance Act 2022, detailing TDS requirements on benefits or perquisites provided to reside...
Income Tax : Understand the interpretation of 'arising from business or the exercise of a profession' for Section 194-R of the Income Tax Act. ...
Income Tax : Explore Section 206AB of Income Tax Act, imposing higher TDS rates for specified persons not filing ITR. Learn conditions, rates, ...
Income Tax : Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankrupt...
Income Tax : The assessee is a wholly owned subsidiary of Samsung Electronics Company Ltd. The assessee filed the return of income for AY 2015-...
Income Tax : Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 - Circular No. 18/2022-Income Tax...
Income Tax : 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 V...
Income Tax : CBDT issued Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961 vide Circula...
Explore the latest guidelines on TDS under Section 194R with insights from CBDT Circular No. 18 of 2022. Understand exemptions for one-time loan settlements, reimbursement of out-of-pocket expenses, and the impact on dealer conferences. Stay informed on issues like claiming depreciation, applicability to Embassies/High Commissions, and the treatment of bonus/right shares issuance. Disclaimer: This article offers general guidance; consult a tax professional for personalized advice based on your specific circumstances.
Discover key insights from CBDT Circular No. 18 of 2022 dated 13th September, 2022, providing additional guidelines for difficulties under section 194R of the Income Tax Act, 1961. Learn about the clarification on one-time loan settlements, reimbursement of expenses, and challenges in identifying benefits in group activities. Stay informed about the latest updates to ensure compliance and avoid penalties. Disclaimer: This article is for general information purposes; consult tax professionals for personalized advice.
Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 – Circular No. 18/2022-Income Tax
Understand the implications of Section 194R on benefits and perquisites for residents. Stay updated on tax deductions and reporting requirements.
Understand the new section 194R and its impact on perquisites provided in cash to employees or partners. Learn about the TDS deduction and its implications.
In Finance Act, 2022 new section 194R inserted for deduction of tax at source on benefit or perquisite in respect of business or profession.
Tax will now be deducted under section 194R on free sample, foreign trips, gifts. Doctors and others will be affected.
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.
Explore the nuances of TDS under Section 194R and Section 194S of the Income Tax Act, 1961, introduced by the Finance Bill 2022. Uncover the implications and requirements for businesses and individuals, covering aspects such as deduction rates, applicable entities, and specific scenarios like benefits, perquisites, and virtual digital asset transfers. Stay informed about the proposed changes and potential challenges.
Understanding Section 194R of the Income Tax Act 1961. Is it double taxation or an entry for fringe benefit tax? Find out the implications for businesses.
