Tag: Deduction of tax on benefit or perquisite in respect of business or profession

  • TDS on benefit or perquisite in respect of business or profession (Sec 194R)

    TDS on benefit or perquisite in respect of business or profession (Sec 194R)

    It was observed by department that many companies claimed expenses for business promotions by offering various gifts/ perks/ benefits to its dealers (on fulfillments of conditions of under agreement or as per prevalent norms/ tradition practice followed by over the years by business entity) under section 37 of Income Tax Act 1961, however majority of…

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