Newly Incorporated Section 194R (Income Tax Act 1961)

Section 194R:- TDS on Benefit/Perquisite in respect of Business/Profession
Applicability Form : - 1st JULY 2022
Background :-



Deductee-Resident/Non Resident/Both

Nature of Payment

Threshold   (In INR)

TDS Rate



Any person other than an individual or HUF whose Total Sales, Gross Receipts/Turnover does not exceed Rs. 1 cr. In case of Business or Rs.50 Lac in case of Profession during the FY immediately preceding FY in which such benefit/perquisite is provided by such person.



TDS on Benefit/

Perquisite* in respect of Business/Profession

(*whether convertible in money or not but if wholly in kind or partly in cash and partly in kind and such part in cash is not sufficient to meet the liability of deduction of tax, the deductor, before releasing the benefit or perquisite, ensure that tax required to be deducted has been paid in respect of the benefit or perquisite.



Circular(12 of 2022) by department

giving FAQ

(Attached herewith)

Complete circular attached

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