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

TDS on benefits/perquisites should be reported as business income; recipient ordinarily has no GST liability.
TDS deducted on benefits or perquisites must be reported by the recipient as Profits & Gains from Business or Profession (PGBP) in the ITR, with tax credit shown under Schedule TDS corresponding to Form 26AS. GST is ordinarily not payable by the recipient because receipt of a benefit is not consideration for a supply; any GST liability is determined with reference to the provider of the benefit.