WebS.194R, inserted in the ITA vide Finance Act, 2024 effective from 1 July 2024, mandates a person providing benefit/perquisite to a resident to withhold tax at 10% on the value or … WebJun 30, 2024 · By Nitesh Buddhadev Finance Act 2024 inserted a new section 194R in the Income-tax Act, 1961 with effect from 1 st July 2024. The new section mandates a person providing any benefit or...
Assessment of CBDT Circular on Section 194R TDS on …
WebJun 11, 2024 · The benefits or perquisites proposed to be covered by this new section 194R are those perks, benefits, amenities, or facilities, probably in kind, or in a combination of cash and kind, which a resident person enjoys, pursuant to, or in exercise of his business or profession, in lieu of the regular consideration payable to him, in monetary terms, … WebRecap of Provisions of section 194R introduced by the Finance Act, 2024 and CDBT Circular No. 12/ 2024 dated 16 June 2024; Implications of CBDT Circular No 18/2024 … christmas clipart corner borders
incometaxindia.gov.in
WebThis Circular offers instructions for resolving issues with Section 194R, which takes effect on July 1, 2024. Section 194R requires a ten percent tax or TDS deduction on any … WebJun 20, 2024 · The Central Board of Direct Taxes (CBDT) has provided the guidelines asking to address the problems that arise from the application of the latest section 194R of the income tax act for withholding 10% tax (TDS) on the advantages or perquisites from non-salary sources. The latest provision portion of the finance act 2024 would come into … WebCBDT Circular No. 18 of 2024 dated 13th September, 2024 issuing Additional Guidelines for removal of difficulties under sub-section 2 of section 194R of the Income Tax Act, … germany jails people for speech