Fringe Benefit Tax (FBT) was a tax imposed on employers in India for providing certain fringe benefits to employees. Although the FBT regime was abolished in 2009, it remains relevant…
Introduction to Section 115WK Section 115WK of the Income Tax Act specifies the interest liability for employers who either file their fringe benefits tax return late or fail to file…
Introduction With the increasing complexities of tax compliance, businesses need to understand their obligations under the Income Tax Act, especially when it comes to fringe benefits. Section 115WJ of the…
Fringe benefits, often an essential component of employee remuneration, are also subject to tax under the Indian Income Tax Act. Section 115WG specifically deals with instances where fringe benefits, chargeable…
Fringe benefits taxation (FBT) plays a crucial role in the Indian tax landscape, particularly for employers offering additional benefits to employees. Introduced under Chapter XII-H, Section 115WE of the Income…
Introduction to Section 115WB: Fringe Benefits Taxation In India, employers often provide additional benefits to their employees beyond salaries, known as fringe benefits. Section 115WB of the Income Tax Act…
The Fringe Benefit Tax (FBT), outlined in Section 115WA of the Income Tax Act, introduced a unique additional tax applicable to employers. This tax, levied on non-salary benefits provided to…
Introduction The Income Tax Act of India contains various provisions that help clarify specific terms and concepts for accurate interpretation and application of tax laws. One such section is Section…