Income Tax : The law taxes business/professional benefits via 10% TDS, even for non-cash perks. The key takeaway is tax must be ensured before ...
Income Tax : Understand Section 194R on TDS for benefits or perquisites from business or profession, its applicability, rate, valuation, exempt...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
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 : Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankrupt...
Income Tax : ITAT Bangalore held that assets received for testing purpose and there is no specific benefit that arises to the assessee with res...
Income Tax : The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding tha...
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...
The Finance Act, 2022 has inserted w.e.f. 1-7-2022 a new TDS section 194R for deduction of tax @ 10%, on any benefit or perquisite, arising from business or profession, of a resident. CBDT in its Circular no. 12 of 2022 dated 16 June 2022 has come out with the guidelines in the form of Q&As […]
Understanding the new section 194R TDS provision in the Income Tax Act. Learn about the impact on doing business and the requirement for tax deduction.
Understand the impact of the new Section 194R of the Income Tax Act introduced in 2022. Explore applicability, exceptions, and CBDT clarifications. Prepare for tax compliance and navigate potential complexities.
The new section 194R mandates a person, who is responsible for providing any benefit or perquisite to a resident, to deduct tax at source before providing such benefit or perquisite. The benefit or perquisite may or may not be convertible into money but should arise either from carrying out of business, or from exercising a profession, by such resident.
Understand how Section 194R impacts benefits and perquisites. Learn about the new TDS requirements from the Govt starting July 2022.
Learn about the new Section 194R under the Income Tax Act, 1961. Find out the TDS rate and conditions for deducting TDS on benefits or perquisites.
Understanding the applicability of Section 194R of the Income Tax Act and its impact on benefits or perquisites in business or profession.
Understand Section 194R TDS on benefits, perquisites, and gifts in business or profession. Learn about the applicable rate, deduction limit, and who is liable.
Understanding the implications of the new CBDT circulars and the impact on tax rates in the new regime. Dive into the details and get a clear picture.
Get insights on Section 194R TDS implementation: understand the impact, issues, and challenges for trade and industry. Stay informed about the new TDS provisions.
