Section 194R
Test Your Knowledge on Section 194R
Welcome to the Section 194R Quiz! This quiz is designed to test your understanding of the tax implications related to benefits and perquisites under Section 194R. Whether you’re a professional in tax advisory, a business owner, or someone eager to learn, this quiz is for you!
- 10 multiple choice questions
- Engaging scenarios related to Section 194R
- Instant feedback on your answers
Is it necessary that the benefit or perquisite must be in kind for section 194R of the Act to operate?
No. It should be only in Cash.
Yes, It should be only In Kind.
Can be partly in kind and partly in cash.
None of the above
The assessee was a director of a company. In terms of an agreement with the promoters, shares were allotted to the director. Will the company be liable to deduct tax on such value of shares under section 194R?
Yes
No
If the company wants, it can be deducted.
A person gives medicine samples free to medical practitioners which is worth Rs. 20,000 (excluding GST) and has given medicines worth Rs. 20,000 (excluding GST) but charged Rs. 18,000. Rs 2000 is cash discount. What value will be considered for Section 194R?
40000
18000
20000
0
The benefit provider has purchased the benefit before providing it to the recipient. The benefit charged to the recipient is Rs. 3540 which is including of 18% IGST. The purchase price of the Benefit is Rs. 2000 excluding GST. What will be the TDS under section 194R?
354
300
200
600
Mr x, a social media influencer is given a car worth Rs. 6,00,000/- (excluding GST) by a manufacturing company. Mr. X, after using it for rendering service returns it to the company. What will be the TDS amount that the company has to deduct?
60000
25000
108000
None of the above
Mr. X is a consultant rendering services to a company. Mr. X travels to Delhi in the course of rendering that service. The travel bills to the extent of Rs.50,000 (excluding GST) are in the name of the company and Rs. 20,000 (excluding GST) is in the name of Mr.X. The company reimburses the travel expenses incurred by Mr. X. To what extent the reimbursed amount will be considered for Section 194R?
50000
20000
70000
None of the above
A dealer conference was held for those dealers who made a specific target which costed Rs. 30,000. Will this cost attract TDS under Section 194R?
No, It will not attract.
It will attract.
Depends on what the conference was held for.
None of the above.
The benefit provided was in the nature of kind of Rs. 5000 and in cash of Rs. 6000 during the financial year to a resident. To what extent will the amount be considered under section 194R?
0
5000
6000
11000
During the FY 22-23, Benefits was provided of Rs. 40,000 to an individual. Rs. 20,000 pertains to the month of Apr'21,May'21,Jun'21. The gross receipts of a HUF is RS. 60,000/- from business. To what extent the value of benefit will be considered for Section 194R?
40000
20000
NIL
60000
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