New TDS and income tax rules under section 194R from 1st July 2022 explained in Hindi. Under section 194R of income tax act, social media influencers, doctors, other professionals will have to pay tax on freebies received.
——————————————————————————————-
*** Invest & Trade in Stocks & Mutual Funds ***
Open your Discount Demat Account here:
✔ Zerodha –
✔ Angel Broking – https://tinyurl.com/yzmhe8fm
✔ Upstox –
——————————————————————————————-
***Start investing in Fixed Income Securities***
Start Covered Bonds Here:
✔Wint Wealth –
Start Invoice Discounting Here:
✔TradeCred –
Start Bonds Investing Here:
✔GoldenPi –
——————————————————————————————-
Related Videos & Playlists:
Master Investor Series for Stocks:
Mutual Funds Series:
Real Estate Investing:
——————————————————————————————-
Time Stamps
00:00 – Intro
00:33 – Which benefits are covered under this act?
01:22 – Who will be affected by this rule?
03:31 – Taxation of perquisites to employees
05:00 – Conclusion
About the video
The Income Tax Act has a new clause, Section 194R, that mandates the deduction of tax at source at a rate of 10% by any person offering a resident with benefits or perquisites that exceed Rs 20,000 yearly. The provision will be applied to social media influencers and doctors among others to put a check on benefits received from business or sales promotion activities. This provision will be applicable from 1st July 2022. It will apply to any seller giving incentives, other than discount or rebate, in cash or kind, like car, TV, computers, mobile phone, gold, sponsored trip, IPL tickets etc.
Nowadays, social media influencers play an important role in any Company’s marketing strategy. An interesting question that arises on the introduction of this section is should TDS be deducted on the product given to a social media influencer for promotion of the product on social media. Budget 2022 brought in a new section, 194R, in the I-T Act which requires deduction of tax at source at the rate of 10% by any person, providing any benefit or perquisite exceeding Rs 20,000 in a year to a resident, arising from the business or profession of such resident. We will also discuss taxation of benefits and perquisites received by employees from their employer.
In this video, we’ll cover the following concepts:
1. New TDS rules from 1st July 2022.
2. New Income Tax Rules 2022.
3. What is section 194R of income tax act?
4. Tax on freebies to social media influencers.
5. No more freebies.
6. What is the TDS on freebies?
7. What is section 192?
8. How much TDS will social media influencers pay?
9. TDS on salary.
10. How much TDS is deducted on benefits and perquisites received by employees?
11. TDS deduction under section 192.
12. Tax on social media influencers, doctors.
13. Section 194R explained.
14. Section 192 TDS on salary.
15. New tax rules from 2022.
——————————————————————————————-
Connect with Us
INSTAGRAM – https://www.instagram.com/assetyogi
TWITTER – https://twitter.com/assetyogi
FACEBOOK – https://www.facebook.com/assetyogi/
LINKEDIN – https://www.linkedin.com/in/mukulm
——————————————————————————————-
Website
https://assetyogi.com
#TDS #IncomeTax #Section194R
