As anticipated, the Apex body CBDT has come up with a Clarificatory Circular No. 12 of 2022 bearing folio no. 370142/27/2022-TPL, dated 16.6.2022, containing clarificatory guidelines in the form of ‘Ten Question-Answers’, on newly inserted provisions concerning applicability of TDS on Benefits or Perquisites, u/s 194R of the Income Tax Act. The copy of the said CBDT Circular is enclosed as per pdf file below, for ready reference of our Readers.

In this Taxalogue, all the significant clarifications/guidelines as contained in the captioned CBDT Circular No. 12 of 2022, concerning the practical implementation of the provisions of section 194R w.e.f. 1.7.2022, have been analysed and explained.

However, before proceeding towar.