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Query Related TDS Deduction Section 194-R

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(Querist)
03 May 2023 Suppose X person works in ABC LTD. Who give Gift a Mobile of Rs. 1,00,000/- to Y person Who works in XYZ ltd. So, here this Transaction is fall under new TDS section of 194-R.

1. TDS need to Deduct of XYZ LTD / Mr. Y ?

Please also mention Reason to better understand.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 May 2023 Here XYZ gives benefit to MR. Y of amount Rs. 1 lakh.
So, XYZ will deduct TDS (or ask for such amount from Mr. Y) and pay it to treasury.

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