Section 115WB of ITA, 1961 : Section 115Wb: Fringe Benefits

ITA, 1961

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Explanation using Example

Imagine a software company, TechVantage, which provides various benefits to its employees. These benefits include a company car for senior managers, gym memberships, and occasional hotel stays for business trips. Under Section 115WB of The Income-tax Act, 1961, these perks can be considered as "fringe benefits" provided by the employer.

For example, if TechVantage pays for the fuel and maintenance of the company cars used by its employees, this expense could be considered a fringe ...

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