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of <h1>Section 115WKB: Employers Recovering Fringe Benefit Tax from Employees on Securities or Sweat Equity Shares Clarified</h1> Section 115WKB of the Income-tax Act, introduced by the Finance Bill, 2008, addresses the deemed payment of fringe benefit tax by employees. If an employer pays fringe benefit tax on specified securities or sweat equity shares and subsequently recovers it from an employee, it is considered as tax paid by the employee for the fringe benefit value provided to them. The employee cannot claim a refund or credit this tax against other income tax liabilities. This provision ensures that the tax recovery process is streamlined and clear in terms of employee obligations.
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