Dear Canpals , Today, we are writing to address an important matter that weighs heavily on all our minds – taxation of perquisites. Our Honourable Supreme Court through Civil Appeal No. 7708 of 2014, upholds the vires of Section 17(2)(viii) of the Income Tax Act, 1961 and Rule 3(7)(i) of the Income Tax Rules, 1962. This judgement outlines the rationale behind considering certain benefits like residential accommodation, interest-free loans, loans with concessional rate of interest, etc. as ‘fringe benefits’ or ‘amenities’ and are taxable under Rule 3(7)(i) of the Income Tax Rules, 1962. At this juncture, I inform you that our *beloved General Secretary* *has once again met our* *Respected MD&CEO Shri Satyanarayana Raju sir* and reiterated the concerns once again. Our beloved *General Secretary* has once again appealed to our beloved MD&CEO sir to bear this additional tax burden of our Canarites and *not to deduct* as it was mentioned in the communication, that it will be deducted in 3 instalments from this month. Dear friends, Since the dialogues are in progress with our Top Management guided by our *beloved MD & CEO*, I kindly request each and every one of you to exhibit confidence and faith on our beloved CBOA. CBOA under the leadership of *our beloved General Secretary* never leaves any stone unturned to take care of the Bank and its work force. Will keep you posted. Keep our members informed about it and wait for the communication of our beloved General Secretary. Manjunatha & Srikanth Kulkarni HO Liaisons