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of <h1>Employers must pay fringe benefit tax in advance during financial year under Section 115WI despite later assessment</h1> Section 115WI of the Income Tax Act, 1961 establishes advance payment requirements for fringe benefit tax. Despite regular assessment occurring in a later assessment year, employers must pay fringe benefit tax in advance during the financial year according to section 115WJ provisions. The advance payment covers fringe benefits that will be chargeable to tax in the assessment year immediately following the current financial year. These benefits are designated as 'current fringe benefits' for the chapter's purposes. This provision was inserted through the Finance Act, 2005, effective from April 1, 2006.
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