New TDS Rules For Influencers And Doctors- G Bajpai & Associates

  • From 1st July onwards, TDS at 10% shall be applicable on benefits received from the business by social media influencers and doctors. 
  • Any person who provides any benefit or perquisite exceeding Rs 20,000 in a year to a resident arising from the business or profession of such resident shall make the payment after deducting tax at source.
  • Benefits received can be in kind (like mobile, car, outfit, gold coins, etc), in cash, or partly in kind and partly in cash. 
  • Exceptions:

-Sales discounts, cash discounts, and rebates

-If the product is returned to the company

-If the benefit or perquisite is provided to a government entity not carrying on business or profession, like a government hospital, etc.

  • The responsibility of tax deduction also does not apply to a person, being an Individual/Hindu undivided family (HUF) deductor, whose total sales / gross receipts / gross turnover from business does not exceed one crore rupees, or from profession does not exceed fifty lakh rupees, during the financial year immediately preceding the financial year in which such benefit or perquisite is provided by him.
Contact us: +919415912987

Location: 11th Floor, Wing A, Summit Building, Vibhuti Khand, Gomti Nagar, Lucknow, Uttar Pradesh 226010, India

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