TDS on Benefits or Perquisites arising from Business or Profession Taxable under Section 28 (iv)

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Description
Comparative analysis of sections 194R & 28(iv)
► Detailed analysis of new section 28(iv)
► Detailed analysis of CBDT's Circular No. 12/2022 & Circular No. 18/2022
► Valuation of perquisites or benefits under section 28(iv) & under section 194
► Illustrative case studies
► FAQS
► Alphabetical reckoner of benefits/perquisites
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Table of Contents
Chapter 1. Deduction of tax on the benefit or perquisite in respect of business or profession [Section 194R]
Chapter 2. Provider of benefit or perquisite'/'deductor'/'ensurer'
Chapter 3. Benefit or perquisite should be provided to a Specified Deductee i.e. a resident recipient who satisfies specified conditions
Chapter 4. Specified benefit/perquisite
Chapter 5. Obligation cast upon by section 194R on the “deductor" (provider of benefit/perquisite)
Chapter 6. Removal of Difficulty Clause' - Power of CBDT to issue Removal of Difficulties Guidelines
Chapter 7. Valuation of benefits/perquisites
Chapter 8. Applicability of section 194R to purely monetary perquisites/ benefits
Chapter 9. Applicability of section 194R to Principal amount of loan aboad-afan
Chapter 10. Applicability of section 194R/section 28(iv) to interest-free loan
Chapter 11. Applicability of section 194R/section 28(iv) to discounts, rebates, gifts, incentives, Cashbacks etc.
Chapter 12. Applicability of section 28(iv)/section 194R to amount received under consent decree from seller of plot for breach of contract to deliver possession of plot
Chapter 13. Applicability of section 28(iv)/section 194R to benefits or perquisites provided in the form of capital assets
Chapter 14. Applicability of section 28(iv)/section 194R to benefits or perquisites provided in the form of shares
Chapter 15. Applicability of section 28(iv)/section 194R to benefits or perquisites provided in the form of land
Chapter 16. Applicability of section 28(iv)/section 194R to benefits or perquisites provided in the form of jewellery
Chapter 17. Applicability of section 28(iv)/section 194R to benefits or perquisites provided in the form of archaeological collections, paintings, drawings, Sculptures or any work of art
Chapter 18. Applicability of section 28(iv)/section 194R to benefits or perquisites provided in the form of car, Furnitures/fixtures
Chapter 19. Complimentary Copies provided by publishers to authors/others
Chapter 20. Applicability of section 28(iv)/section 194R to freebies given by pharma companies to doctors
Chapter 21. Applicability of section 28(iv)/section 194R to gifts to brand ambassadors
Chapter 22. Applicability of section 28(iv)/section 194R to foreign tours organised for dealers/agents who achieve targets
Chapter 23. Applicability of section 28(iv)/section 194R to products given free to social media influencers
Chapter 24. Applicability of section 28(iv)/section 194R to reimbursements
Chapter 25. Applicability of section 28(iv)/section 194R to dealers' conference
Chapter 26. Applicability of section 28(iv)/section 194R to amalgamation
Chapter 27. Applicability of section 28(iv)/section 194R to Shareholder's loan to company converted into his earnest money for property sale to him and forfeited by company for failure to pay balance
Chapter 28. Applicability of section 28(iv)/section 194R to non-monetary benefits given to partner
Chapter 29. Applicability of section 194R to asset transferred to retiring partner
Chapter 30. Perquisites/benefits provided to a director of a company
Chapter 31. Perquisites provided by hospital to doctors
Chapter 32. Tips collected by hotel/food delivery apps from customers and paid over to employees/'delivery partners'
Chapter 33. Bad debts written off - Whether perquisite/benefit liable for TDS u/s 194R
Chapter 34. Rewards to athletes/sportspersons who win medals in Olympics/Worlds etc.
Chapter 35. Frequently Asked Questions (FAQs)
Chapter 36. Avenues for litigation
Chapter 37. IT Amendments made to Income Tax Rules consequent to section 194R
Chapter 38. Applicability of penalty and prosecution for default in deducting TDS u/s 194R
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Author Details
Srinivasan Anand G