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of <h1>Section 194R: 10% TDS on Business Benefits Over 20,000; Exemptions for Low Turnover and Specific Entities</h1> Section 194R, effective from July 1, 2022, mandates Tax Deducted at Source (TDS) on benefits or perquisites provided to residents from business or professional activities. The TDS rate is 10%, applicable unless the benefit value does not exceed 20,000 annually or the provider's turnover is below specified thresholds. Clarifications from the Central Board of Direct Taxes (CBDT) address scenarios like benefits in kind, capital assets, discounts, and reimbursements. The responsibility lies with the provider to ensure tax deduction compliance before releasing benefits or perquisites. Specific exemptions and conditions apply, including for certain entities like embassies.
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