Finance Act, 2022 inserted section 194R, providing for withholding tax on the provision of any benefit perquisite provided by any person to any resident, in the exercise of the business or profession by such resident. Applicable in case the value of such benefit or perquisite provided in the aggregate exceeds Rs. 20,000/- during the F.Y. This section is applicable from 01.07.2022. Finance Act, 2022 inserted a new section 194S in the Act w.e.f. 1st July 2022. The new section mandates
Tag: Business
Management Accounting
What Is Management Accounting and Its Functions? Management accounting is the process of preparing reports about business operations that help managers make short-term and long-term decisions. It helps a business pursue its goals by identifying, measuring, analysing, interpreting and communicating information to managers. What Is a Management Accounting System? Internal management accounting systems are used to provide critical information to management to be used in operational business decision-making. A manufacturing company might use these systems to help in the costing