http://www.kslegislature.org/li/b2024_22/measures/sb194/ WebJun 20, 2024 · This Tax Alert explains Circular No. 12 dated 16 June 2024 (Circular) issued by the Central Board of Direct Taxes (CBDT) with a view to remove difficulties and provide guidance on various issues on interpretation and application of a newly inserted withholding provision, Section (S.) 194R, under the Income Tax Act (ITA).
Analysis of Section 194R - Western India Regional Council of …
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 … WebSep 1, 2024 · Here to understand the implications of both the sections we need to look at the recent circular released by CBDT which says that, “Section 194R of the Act casts an obligation on the person ... officer hanning
Demystifying CBDT Circular No. 18/2024 on Section 194R: TDS …
WebJun 22, 2024 · Circular No. 12/2024 - 16-6-2024 The Finance Act, 2024 had inserted a new section 194R to the Income-tax Act, 1961 providing for deduction of tax at source (TDS) on benefit or perquisite in respect of business or profession. TDS under section 194R is applicable with effect from 1 st July 2024.The text of Section 194R has been produced … WebJun 25, 2024 · The circular has clarified whether products provided to an artist, influencer for e.g. outfits, cosmetics mobile etc. for promotion or marketing would qualify as a perquisite. As per the... WebJun 19, 2024 · SECTION 194R – TDS ON BENEFIT / PERQUISITE TO RESIDENT BY PERSON HAVING INCOME FROM BUSINESS/PROFESSION Applicable from 1.7.2024 Applicable to Any person having income from business and profession except: Individuals/HUF with turnover from business less than Rs.1 crore or profession less than … officer hanson crash