Section 115WD of ITA, 1961 : Section 115Wd: Return Of Fringe Benefits

Explanation using Example

Let's say ABC Corp, a software development company, provides various perks to its employees, such as company cars, free meals, and club memberships. These perks are considered fringe benefits. Since ABC Corp is a company, it is required by Section 115WD of The Income-tax Act, 1961, to file a return of fringe benefits.

According to the law, ABC Corp must file this return by the 30th of September of the assessment year. However, if they fail to do so, the Assessing Officer has the authority to issue a notice after t...

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