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Are you giving Freebies to Dealers/Distributors/ Employees/ Business partners, then from 1 July 2022 you need to deduct TDS under Section 194R
Understanding TDS on Benefit or Perquisite under section 194R of the Income Tax Act. Learn about the new tax requirements and deductions for business or profession income.
Understanding Section 194R TDS on Benefits or Perquisites under Income Tax Act 1961. Learn about its objectives, implementation, and impact on tax base.
Understanding the complexities of valuation under Section 194R. Learn about the challenges and implications of tax deduction at source (TDS) in non-cash transactions.
Learn about Section-194R and the deduction of tax on benefits or perquisites in respect of business or profession. Understand the provisions, applicability, and key issues related to this section.
Understanding the implementation of Section 194R TDS on benefit or perquisite. Learn about the legal provisions and tax rates effective from July 2022.
New TDS Provisions (Section 194R and section 194S of Income-tax Act, 1961) are applicable from 01.07.2022.and inserted vide Finance Act 2022.
Section 194R would mandate a person to deduct tax at source at 10% on providing any benefit or perquisite, whether convertible into money or not, to a resident arising during the course of business or profession.
Dilip B. Desai Vs ACIT (ITAT Kolkata) From 01.04.2010 the business of the assessee was converted from sole proprietorship concern to newly incorporated partnership concern in the name of ‘D.B. Desai & Associates’ and PAN allotted to it is ‘AAHFD1697D’. Since the business was shifted to the partnership firm from 01.04.2010 all the relevant information […]
Explore the open issue of TDS Section 194H – whether on payment of commission or on discount given. Get insights on this unresolved matter after 15 years.
