Section 194R was introduced with effect from 1st July 2022 to deduct tax at source on benefits or perquisites @10%.
CBDT thereafter issued guidelines to clarify doubts on the applicability of this section.
To remove difficulties for taxpayers, the Income Tax Department has further issued a set of additional guidelines vide Circular 18 of 2022.
These are the key takeaways from the circular:
For any clarifications/feedback on the topic, please contact the writer at ektha.surana@clear.in
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