[The Viewpoint] Overview of the guidelines for tax deductions on benefits or perquisites

The provisions of Section 194R are not applicable if:

1. The value or aggregate value of the perquisite paid or likely to be paid to an Indian resident during the financial year does not exceed twenty thousand rupees; and

2. The benefit provider is an individual or Hindu Undivided Family, whose total sales, gross receipts, or turnover from business does not exceed one crore rupees or from profession does not exceed fifty lakh rupees, during the financial year immediately preceding the financial year in which such perquisite is provided.

Source: Barandbench