https://www.taxtmi.com/circulars?id=65670 Section 194R requires a person providing any benefit or perquisite to a resident, arising from business or profession, to deduct tax at source before providing it, subject to a financial year monetary threshold and turnover based exemptions for Individual/HUF deductors. The deductor need not verify taxability in the recipient's hands; the obligation applies to cash, kind or partly cash/kind benefits. Valuation is by fair market value except where purchase price or manufacturer's sale price applies, GST is excluded, and specified trade discounts/rebates are excluded from deduction. en-us Thu, 16 Jun 2022 00:00:00 +0530 Fri, 17 Jun 2022 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65670 Section 194R requires a person providing any benefit or perquisite to a resident, arising from business or profession, to deduct tax at source before providing it, subject to a financial year monetary threshold and turnover based exemptions for Individual/HUF deductors. The deductor need not verify taxability in the recipient's hands; the obligation applies to cash, kind or partly cash/kind benefits. Valuation is by fair market value except where purchase price or manufacturer's sale price applies, GST is excluded, and specified trade discounts/rebates are excluded from deduction. Circulars Income Tax Thu, 16 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65670