Union Budget: Up to 6 months jail if TDS on free samples to doctors not deposited
The Union Government has recently clarified that failing to deduct and pay 10 percent TDS on the value of freebies received by doctors, as required under Section 194R (TDS on benefit or perquisite in respect of business or profession) in the Income-tax Act, 1961, will attract jail term for up to 6 months and a sum of penalty.This came during the budget for the year 2023-24, wherein,...
The Union Government has recently clarified that failing to deduct and pay 10 percent TDS on the value of freebies received by doctors, as required under Section 194R (TDS on benefit or perquisite in respect of business or profession) in the Income-tax Act, 1961, will attract jail term for up to 6 months and a sum of penalty.
This came during the budget for the year 2023-24, wherein, various amendments have been proposed for the taxpayers by the Union Finance Minister Nirmala Sitharaman.
For more details, check out the link given below:
Up To 6 Months Jail If TDS On Free Samples To Doctors Not Deposited: Union Budget
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