Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Fringe benefits: employer provided privileges and expenses can be treated as taxable consideration, subject to specified exclusions. Section 115WB defines fringe benefits to include employer provided privileges, services, amenities, concessional private travel tickets, employer contributions to approved superannuation funds, and specified securities or sweat equity shares. It deems fringe benefits to arise where the employer incurs expenses for categories such as entertainment, hospitality, conferences, sales promotion (subject to specified advertising and sponsorship exclusions), employees' welfare (with enumerated exclusions), conveyance, accommodation, vehicle and aircraft upkeep, telephone use, festival celebrations, club and health facilities, gifts, scholarships, and tour and travel; perquisites taxed as employee income and certain commuting transport benefits are excluded.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fringe benefits: employer provided privileges and expenses can be treated as taxable consideration, subject to specified exclusions.
Section 115WB defines fringe benefits to include employer provided privileges, services, amenities, concessional private travel tickets, employer contributions to approved superannuation funds, and specified securities or sweat equity shares. It deems fringe benefits to arise where the employer incurs expenses for categories such as entertainment, hospitality, conferences, sales promotion (subject to specified advertising and sponsorship exclusions), employees' welfare (with enumerated exclusions), conveyance, accommodation, vehicle and aircraft upkeep, telephone use, festival celebrations, club and health facilities, gifts, scholarships, and tour and travel; perquisites taxed as employee income and certain commuting transport benefits are excluded.
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