Budget 2022 proposes levy of 10% TDS on Perquisites exceeding Rs. 25,000

Budget 2022 -TDS -Perquisites -Taxscan

The Finance Bill, 2022 proposed on Tuesday has inserted a new provision imposing deduction of 10% TDS on the amount of perquisites provided to an employee exceeding Rs. 25,000 from 1st July 2022. As per clause (iv) of section 28 of the Act, the value of any benefit or perquisite, whether convertible into money or…

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