Compfie | Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income tax Act, 1961(dated

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Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income tax Act, 1961(dated – 16.06.2022)-CBDT.

Since the threshold of twenty thousand rupees is with respect to the financial year, calculation of value or aggregate of value of the benefit or perquisite triggering deduction under section 194R of the Act shall be counted from I” April, 2022. Hence, if the value or aggregate value of the benefit or perquisite provided or likely to be provided to a resident exceeds twenty thousand rupees during the financial year 2022-23 (including the period up to 30th June 2022), the provision of section 194R shall apply on any benefit or perquisite provided on or after I” July 2022.
The benefit or perquisite which has been provided on or before 30″ June 2022, would not be subjected