Benefits or Perquisites received in respect of business or profession (Section 194R)


This query is : Resolved 

Quick Summary
This discussion addresses how to declare benefits received under Section 194R in an ITR-4. The advice suggests showing the income under 'Income from Other Sources' (IFOS) or, if it relates to your business, declaring it as business income under the Profit and Gains from Business or Profession (PGBP) head. Ensure you check the TDS column for correct reporting.

31 July 2023 I have income from Business of Electrical Appliances, Sale & Service etc. I have filed ITR-4 since many years. Last year I have received benefits from Bajaj Electricals Ltd. for Rs. 7500/- (Section 194R). This benefits of Rs. 7500/- where to show in ITR-4 ? / How to show this benefit in ITR-4?
Give Your Expert opinion earliest as possible,
With Regards
Thanking You,

RAJA P M (Expert)
31 July 2023 Show the income in IFOS.

02 August 2023 Check the TDS column, if the income is u/h PGBP, you can even declare it under your business income.


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