Taxmann TDS on Benefits or Perquisites under Section 194R by Srinivasan Anand G. – 1st Edition 2022

This is a handy book on deduction of tax deduction at source (TDS) on benefits or perquisites under Section 194R of the Income-tax Act 1962, which came into effect from 01-07-2022. It covers a unique compliance-oriented & legal approach, along with the following:

• Illustrative Case Studies on Deduction of TDS under various scenarios
• Frequently Asked Questions (FAQs) on Key Concepts
• Ready Reckoners
  • Alphabetical Reckoner on Benefits/Perquisites
  • Reckoner to Central Board of Direct Taxes (CBDT) Circular [Circular No. 12/2022 | Dated 16-06-2022]

The Present Publication is the latest 2022 Edition & updated till 16^th June 2022. This book is authored by CA Srinivasan Anand G., with the following noteworthy features:

• [Reckoner to CBDT’s Circular] which includes the clarifications & issues arising from the Circular, is given at the start of the book
• [Applicability of TDS u/s 194R] discussed via various case studies & FAQs
• [Threadbare Analysis of CBDT’s Circular] which includes the following:
  • What are the requirements of the Circular?
  • What are the matters clarified by the Circular?
  • What are the issues arising out of the Circular and the possible solutions
  • What are the grounds on which the Circular can be challenged?
• [Threadbare Analysis of Removal of Difficulty Clause] of section 194R(2)
• [Complex Legal Positions] are simplified via flow charts
• [Discussion Supported by Case Laws]

The structure of the book is as follows:

• Chapter 1 analyses section 194R, the rationale for enacting it and outlines its salient features
• Chapter 2 discusses who is liable to deduct TDS under section 194R, i.e., who is the provider of benefit or liability?
• Chapter 3 discusses what conditions should deductee (resident recipient) satisfy so that the liability of the provider of benefit or perquisite to deduct TDS u/s 194R is triggered
• Chapter 4 discusses the nature of the condition to be satisfied by benefit or perquisite so that liability to deduct TDS u/s 194R is triggered
  • This chapter is discussed in light of case laws
• Chapter 5 discusses the nature of obligation cast on the provider of benefit/perquisite and how to comply?
• Chapter 6 discusses the removal of difficulty (ROD) clause [Section 194R(2)] and on what grounds the ROD clause itself and Circular 12/2022 issued by CBDT under the ROD clause can be challenged in Courts
• Chapters 7 to 34 discuss the deductibility of TDS under Section 194R in various situations
• Chapter 35 discusses FAQs
• Chapter 36 discusses avenues for litigation that have arisen due to the Circular
• Chapter 37 discusses amendments made to Income-Tax Rules consequent to section 194R

Details