Income tax 2022-23 circular GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES. DURING THE FINANCIAL YEAR 2022-23 CIRCULAR NO. 24/2022 Table of Contents 1 . Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17)……2 1.1 What is salary?…2 1.2 What is a Perquisite? …3 1.3 What is profit in lieu of salary ?.......5 2. Rates of income-tax as per Finance Act, 2022 ..6 2.1 Rates of tax …6 2.2 Surcharge on Income-tax ….7 2.3 Health and Education Cess …..8 2.4 Concessional Rates of Tax u/s 115BAC ……8 3. Section 192 of the Income-tax Act, 1961: Broad scheme of Tax Deduction at Source from "Salaries”…9 3.1 Method of Tax Calculation ….9 3.2 Payment of Tax on Perquisites by Employer ….10 3.3 Computation of Average Income Tax …………11 3.4 Salary from more than one employer ……12 3.5 Relief When Salary Paid in Arrear or Advance ...12 3.6 Information regarding Income under any other head …13 3.7 Computation ...