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Monthly Archives: January 2023

TDS on Gifts – Section 194R is 10% or more ?

Do you know about the TDS on Gifts , if you are a MSME….This New TDS 194R might be even 20% instead of 10% ?

Last year, a new TDS had started… this March 2023, we have the first Balance Sheets for this section’s compliance…. So, let us see this TDS on Gifts From the perspective of MSME’s

Note : TDS 194R could be effective between 10% to 25% for you. So, do read on, and take  actions in time.

This Presentation is made with MSME Entrepreneurs, in mind….and their Accounts Departments… Usually, who are supplying child parts or components to OEM’s, or manufacturing under others’ Brands
We have not covered the Large MNC’s, Large Pharma Companies, who have lot of freebee’s for their Dealers, Distributors

Example : 5 Mobile phones for Gifting @ Rs 15000 each194R – TDS Applicable ? No, ( if separate persons )

Limit of Rs 20000. It is per gift ? No, it is per “year”
Non Resident Customer / Vendor. “excluded”. No TDS.
What if you dont get the PAN ?
TDS Rate goes upto to 20%
TDS entry in the Books ? Date ?
Own Usage vs Gift ? Treatment is different … No TDS, if use it yourself.

TDS Rate could be 20% ~ 25%

This is only for personal information of the members. Based on information & interpretations available as on today, the 26th January 2023.
Please contact your Consultant / Chartered Accountant / counsel for his final opinion, if deemed fit.
In case, you notice any difference in opinion, or difference in interpretation of the law, please share your feedback, we will try our best to improve.

Contact Finsys : : Contact us


More Details

TDS @ 20%, if PAN is not provided or PAN is invalid



Section 194R TDS on Perquisites Business Promotion


  1. Exemption limit
    1. Rs 20,000 is aggregate per person per year
    2. Effect 1 :
      1. So, if “per piece” is over Rs 20,000 = then surely, go into the TDS route
    3. Effect 2 :
      1. Even if per piece is less than Rs 20,000, same person cannot be given benefit totalling to over Rs 20,000 per year
  1. Consumption List
    1. Required to show the above
    2. With the voucher
    3. Remember… that same person not being repeated
  1. Foreigner
    1. Non-resident is not included
    2. Consumption List
      1. Required to show the above … if non resident, then enjoy, without TDS at all
      2. Zero TDS
    3. Due to covid 19 , mostly missing, hence avoid for time being
  1. TDS rate
    1. 10%
    2. With PAN
  2. TDS Rate without PAN
    1. 20%
    2. Grossing up required to be done
    3. 1 lakh… means 1 lakh x 20/(100-20) =
    4. 100000 x 20/80
    5. = 25,000 becomes TDS instead of 20,000
    6. 25%
  3. Entry in books
    1. Voucher time ? .. maybe
    2. Month end ? … maybe
  4. Books,
    1. Separate account = yes 194R TDS




28[Deduction of tax on benefit or perquisite in respect of business or profession.29

194R. (1) Any person responsible for providing to a resident, any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession, by such resident, shall, before providing such benefit or perquisite, as the case may be, to such resident, ensure that tax has been deducted in respect of such benefit or perquisite at the rate of ten per cent of the value or aggregate of value of such benefit or perquisite:

Provided that in a case where the benefit or perquisite, as the case may be, is wholly in kind or partly in cash and partly in kind but such part in cash is not sufficient to meet the liability of deduction of tax in respect of whole of such benefit or perquisite, the person responsible for providing such benefit or perquisite shall, before releasing the benefit or perquisite, ensure that tax required to be deducted has been paid in respect of the benefit or perquisite:

Provided further that the provisions of this section shall not apply in case of a resident where the value or aggregate of value of the benefit or perquisite provided or likely to be provided to such resident during the financial year does not exceed twenty thousand rupees:

Provided also that the provisions of this section shall not apply to a person being an individual or a Hindu undivided family, whose total sales, gross receipts or turnover does not exceed one crore rupees in case of business or fifty lakh rupees in case of profession, during the financial year immediately preceding the financial year in which such benefit or perquisite, as the case may be, is provided by such person.

(2) If any difficulty arises in giving effect to the provisions of this section, the Board may, with the previous approval of the Central Government, issue guidelines for the purpose of removing the difficulty.

(3) Every guideline issued by the Board under sub-section (2) shall, as soon as may be after it is issued, be laid before each House of Parliament, and shall be binding on the income-tax authorities and on the person providing any such benefit or perquisite.

Explanation.—For the purposes of this section, the expression “person responsible for providing” means the person providing such benefit or perquisite, or in case of a company, the company itself including the principal officer thereof.]


Youtube – Sunpack Solutions Pvt Ltd, a Success Story

M/s. Sunpack Solutions Pvt Ltd
Purchases dropped from 50-70 lakhs to 20 lakhs

for the first two months, due to better utilisation, better planning

Employee should feel Happier
“Feel” that he is in a Systematic “MNC” company
Certificates Distribution
to the Successful Team Members

We are at the Cake Cutting Ceremony
and the Samosa Party… with Staff of Sunpack Solutions

Story behind the “Success Story”
with One of the Directors of Sunpack Solutions

Before this, Had tried two ERP Softwares
Lost Time, Money , Efforts and Emotions in both

See… how the Staff came onboard
How the Results expected… have to be kept as main goal

Benefits in Purchase Dept
Real life stories

Mr Arvind Kumar ,  Mr Virender Kumar, Promoters & Directors and Mr Jaspinder Singh, Co-Director

Effect on Purchases
Direct benefit of ERP in Faith, in Culture, in Life

Monthly Purchase has come down
Now they are Real Data based

Mr Sanjay Bansal
Vice President, Implementations, Finsys Team

Sumit Anand
AGM,Marketing, Finsys Infotech Limited

Sunpack Solutions, Sikri
Started in Phased ERP implementation

Let us take a Round of the Factory
Operations at Sunpack Solutions Pvt Ltd

a Micro or Small SME

See… How everybody gets benefited from ERP absorbtion

Sunpack.. Supplying Machines worldwide
Showing the way to other MSME’s


Contact Finsys

: Contact us

Contact Sunpack Solutions Pvt Ltd :

Job Vacancy – ERP Implementation and ERP Support : Noida

Job Vacancies – for Finsys ERP Implementation and ERP Support

Post 1 : Noida

Post 2 : Palwal,

Post 3 : Faridabad

Post 4 : Pune ( Maharashtra )

Post 5 : Nigeria ( Africa  )

Post 6 : Angola ( Africa )

Post 7 : Nepal

Careers .. Jobs Opportunities in Finsys ERP Eco System

Intro :- 

Our Company is in the Mid Size ERP Market for 31 years now.  Implemented at 780+ Careers In Finsysfactories pan-India, and also in UAE, Saudi Arabia, Mauritius, Angola, Congo, USA, Nepal, Nigeria etc

Vacancies for ERP Implementation Consultants, Engineers, AMC Consultants and Marketing Team members

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Graduation : Any Graduate – B E, B.Com, BA, B Sc, BBA, BCA

Careers In Finsys

Post Graduation : (any)… MBA, MCA, MTech, PGDBA, CA, CS… any equivalent

Computer engineers having B.E or B.Tech or BCA ,MCA or any equivalent degree can become excellent ERP software implementers.

For any query Please contact us at


Qualification : Any

Finsys ERP experience : Best choice

Other ERP   : OK, can try

Fresher : can apply… if ready to work on long term basis

Apply to

Mr Virender Singh, DGM

Phone : 9310008914 ( Whatsapp message preferred on this number with your resume ) and email on Virender@finsys. in, cc to

Other details on

Home page :

Careers page

Youtube Videos:

Office video

Best place to work Videos





Job Vacancies Finsys ERP Software Faridabad, Noida, Pune, Nigeria, Angola, Nepal , experience, Implementation and Support

Apply to

Mr Virender Singh, DGM

Phone : 9310008914 ( Whatsapp message preferred on this number with your resume ) and email on Virender@finsys. in, cc to

ERP Software company in Noida Finsys ERP Noida Division

About Finsys ERP

Finsys ERP is an “Ready to use” Established Mid Size ERP Software company with 31 years History ( 1992 – 2023 ) and 780+ Installations.  Professionally run Company. Managed by Systems and SoP’s. Also led by a team of Chartered Accountants, Company Secretaries, Software Experts, Managing Directors’ & CEO’s from the Industry, and Computer Engineers.

Link to our YouTube Page ||READ MORE about us .  ||   MIS Reports to see daily Common to all Manufacturing Businesses  ||  MIS Reports for MD’s- Packaging Business || Checklist : Going LIVE on  ERP Form || Feedback Form ||

Finsys is a Specialised ERP Software For 17 types of Industries.

Finsys has “Ready to use”,  and to a large extent, “Already Customised” Specialised Solutions for specific Industries.  This includes ERP Software for Plastic Moulding, Rubber Moulding, Electronic Equipments and Solar Panels, Corrugation Packaging, Duplex Packaging, Flexible Packaging, Laminates, Labels, Steel Auto Components, Paints and Chemicals, Machinery Manufacture, Forgings, Castings, CNC VMC Machining Plants, Assemblies, and so on.

FINSYS MANUALS | FAQ ( Frequently Asked Questions )


Making Business Better Initiative, to add More JAZZ in your ERP Software Implementation

Finsys ERP Team invites you to PlastIndia 2023 : Pragati Maidan, New Delhi 1-5 Feb 2023

Plast India 2023


Special page to the Finsys page for Corrugation Industry

97,881 Total Pageviews


ERP Software For Duplex Folded Cartons

ERP Software For Label Manufacturers

ERP for Flexible packaging

ERP for Forging Industry

ERP for Auto Components

ERP Software For Plastic Moulded

ERP Software For Rubber Moulded

ERP for Electronics

ERP for Other Industries

Recent News : Finsys World

Finsys has continuously evolved in these 25 years of its Growth since 1992, Some News clips of recent times. For news 2006 to 2015 click our News Archives


Finsys ERP Presence at National and International Exhibitions


Year Established Was

600+ installations

Number of Customers



User Manuals, Videos, Guidelines and Links to YouTube

  • ERP Software Pharmaceuticals
  • ERP Software Pharmaceuticals
  • ERP Software Rubber Parts

Manuals for Using Finsys ERP

User Manuals, Instructions, Suggestions, And Powerpoints on How to Use Finsys ERP, to its best. What do the Developers, and Top Implementors Feel. What is Right ? and What is not Right ? . Learn Finsys yourself.

Corrugation Packaging Click here  | Flexible Packaging      Click here  | Rubber Moulding      Click here

||   MIS Reports to see daily Common to all Manufacturing Businesses  ||  MIS Reports for MD’s- Packaging Business ||

Features & Benefits Of Finsys ERP

Manufacturing is a strength of Finsys ERP, and we know how to help you configure your Finsys ERP to give you the biggest return on your investment. Finsys ERP for Rubber and Plastics is designed for make-to-stock and make-to-order businesses and provides many benefits, including:

  • Functionality for single plant and/or Multi Plant operations…
  • Customised Advanced PPC, Material Planning and Scheduling
  • Embedded EDI collaboration, customised as required
  • Access to real-time data for faster, proactive decisions
  • Traceability and quality control
  • Batch level / Lot level Traceability / Serial/lot tracking and quality control. ( Where required )

ERP Software for Gurgaon, ERP Software Faridabad, ERP software Dharudhera, ERP Software for Noida, ERP Software for Greater Noida, best ERP Software for Delhi NCR

Finsys Manufacturing ERP Highlights



Finsys Implementation, Finsys Upgradations, Support

ERP Software Faridabad
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Access your ERP data, Decide, Act, Approve, Watch, Control.. from your Mobile phone, IOS, Android, Windows and even a Safari Browser / Chrome

ERP Software Company Noida
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We work only on Oracle, the world’s best database. We are proud to be Oracle Gold Partner. You may choose, either “On premises” Oracle Licence, or Oracle Cloud.

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E-Circulars published by Finsys Authors, in recent past, via the I am SME of India, Newsletters. Some of These Circulars are reproduced here below for dispersal of knowledge in Public Domain. Click Here