Tax deduction on perquisites or benefits received
Under the new provision, CBDT guidelines are binding on taxpayers too
For salaried employees, benefits or perquisites received from the employer have always been taxable as salaries, and subjected to tax deduction at source (TDS). Similarly, a benefit or perquisite derived by a business or profession was also taxable. However, till this year’s budget, there was no requirement for the provider to deduct TDS on the value of such benefit or perquisite.