Section 194 R – Deduction of tax on benefit or perquisite in respect of business or profession most simple guide applicable from 01st Jul, 2022
Income Tax Act as amended by Finance Act 2022, a new TDS section i.e., Section 194 R – Deduction of tax on benefit or perquisite in respect of business or profession was introduced. This article includes What is Section 194R, Applicability of this Section, threshold limit, TDS rate, Deductor and Deductee calculation of TDS amount, challenges & solutions of implementing this section.