An individual having income u/s 194J & 194R in form 26AS. If I opt for presumptive income sec. 44ADA for 194J, where should I report 194R income in ITR. Please advise. Thanks in advance.
Menu
Income under section 194R
Replies (2)
Quick Summary
The value of the benefits or perquisites received (whether in cash or kind) should be included as part of their gross receipts/income from business or profession when filling out their ITR. No separate declaration.
Benefits or perquisites received from a business relationship under Section 194R are taxable as income from business or profession under Section 28(iv), not as income from other sources. In your ITR, show it under Schedule BP, and claim the TDS deducted as credit in Schedule TDS by matching it to your 26AS entry. Your deductor should have issued Form 16A for the TDS, which you can use to verify the exact amount.
Our [Section 194R TDS guide](https://taxgarden.in/blog/tds-on-benefits-perquisites-section-194r-393-guide-india-fy-2026-27) covers the ITR disclosure steps and how to handle cases where the perquisite value or TDS entry is missing.
Recent Topics :
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
- ITR-3 - F&O Loss adjusted against business inc
Related Topics :
CAclubindia
