TDS DEDUCTED UNDER SECTION 194R WHERE TO SHOW IN ITR AND GST.

[vaibhav kumar]

TDS has been deducted under Section 194R and reflected in Form 26AS. Where should this amount be shown in the Income Tax Return (ITR)?

• Which income head (e.g., Business/Profession, Other Sources) should this amount be reported under?

• GST Liability on Amount for which TDS is Deducted under Section 194R?

AI Summary

How to report Section 194R TDS benefits in ITR and determine related GST liability for business perquisites A taxpayer notes TDS deducted under section 194R appearing in Form 26AS and seeks guidance on ITR and GST treatment. Section 194R relates to benefits or perquisites arising from business or profession; accordingly, the corresponding gross value is generally to be reported as business/professional income, not under 'Income from Other Sources,' unless facts clearly indicate otherwise. The TDS credit should be claimed in the TDS schedule of the ITR against the relevant PAN and section 194R. For GST, liability depends on whether the underlying benefit/perquisite constitutes a taxable supply made in the course or furtherance of business; if so, it may be subject to GST, independent of TDS deduction, based on valuation and recipient's registration and place of supply.