New TDS u/s 194R applicable from 1/7/2022. It is payable on any incentive given in kind.

 

Finance Act 2022 inserted a new section 194R in the Income-tax Act, 1961 with effect from 1st July 2022. The new section mandates a person providing any benefit or perquisite to another person for their business/profession, to deduct tax at source @ 10% of the aggregate of value of such benefit or perquisite. The benefit or perquisite may be in cash or kind. This Section will have a huge impact on social media influencers and doctors.

Watch our video to know more about this.

 

____________________________________________________________________________________________________________________________________

We’re listening: 

For any query, support or feedback, reach us at Outsourced Accounting & Tax Compliance Services or WA us at +91-9230033070.

Connect on LinkedIn:
https://www.linkedin.com/company/taxmantra

Connect on Facebook:
https://www.facebook.com/taxmantra

Follow us on Twitter:
https://twitter.com/taxmantra?lang=en

Subscribe to our YouTube:
https://www.youtube.com/user/Taxmantra

____________________________________________________________________________________________________