SECTION 194R – Income Tax Act, 1961
The section 194R of TDS is applicable since 1 July, 2022.It is applicable on all businessmen and professionals for benefits/gifts to any person in cash, kind or both.Threshold limit = 20000TDS rate = 10%It's also not applicable in case of an individual having profession (turnover up to 50lakhs) or business (turnover up to 1cr).Example - Free sample and freebies..
