Income Tax Act, 2025
Section 6: Ins. by Act 21 of 2006, s. 29 (w.e.f. 12007).
6. Ins. by Act 21 of 2006, s. 29 (w.e.f. 12007).
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(ab) in the case of an employer engaged in the business of carriage of passengers or goods by
ship, the value of fringe benefits for the purposes referred to in clause (B) of sub-section (2) of
section 115WB shall be “five per cent” instead of “twenty per cent.” referred to in clause (c) of
sub-section (1);]
(b) in the case of an employer engaged in the business of construction, the value of fringe
benefits for the purposes referred to in clause (F) of sub-section (2) of section 115WB shall be “five
per cent” instead of “twenty per cent” referred to in clause (c) of sub-section (1);
(c) in the case of an employer engaged in the business of manufacture or production of
pharmaceuticals, the value of fringe benefits for the purposes referred to in clauses (F) and (G) of
sub-section (2) of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in
clause (c) of sub-section (1);
(d) in the case of an employer engaged in the business of manufacture or production of computer
software, the value of fringe benefits for the purposes referred to in clauses (F) and (G) of sub-section
(2) of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause (c) of
sub-section (1);
1[(da) in the case of an employer engaged in the business of carriage of passengers or goods by
aircraft, the value of fringe benefits for the purposes referred to in clause (G) of sub-section (2)
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause (c) of
sub-section (1);
(db) in the case of an employer engaged in the business of carriage of passengers or goods by
ship, the value of fringe benefits for the purposes referred to in clause (G) of sub-section (2)
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause (c) of
sub-section (1);]
(e) in the case of an employer engaged in the business of carriage of passengers or goods by
motor car, the value of fringe benefits for the purposes referred to in clause (H) of sub-section (2)
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause (c) of
sub-section (1);
(f) in the case of an employer engaged in the business of carriage of passengers or goods by
aircraft, the value of fringe benefits for the purposes referred to in clause (1) of sub-section (2)
of section 115WB shall be taken as Nil.
C.—Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect
thereof
115WD. Return of fringe benefits.—(1) Without prejudice to the provisions contained in section
139, every employer who during a previous year has paid or made provision for payment of fringe
benefits to his employees, shall, on or before the due date, furnish or cause to be furnished a return of
fringe benefits to the Assessing Officer in the prescribed form and verified in the prescribed manner and
setting forth such other particulars as may be prescribed, in respect of the previous year.
Explanation.—In this sub-section, “due date” means,—
(a) where the employer is—
(i) a company; or
(ii) a person (other than a company) whose accounts are required to be audited under this
Act or under any other law for the time being in force,
the 2[30th day of September] of the assessment year;
in the case of an employer engaged in the business of carriage of passengers or goods by
ship, the value of fringe benefits for the purposes referred to in clause
of sub-section
of
section 115WB shall be “five per cent” instead of “twenty per cent.” referred to in clause
of
sub-section
in the case of an employer engaged in the business of construction, the value of fringe
benefits for the purposes referred to in clause
of sub-section
of section 115WB shall be “five
per cent” instead of “twenty per cent” referred to in clause
of sub-section
in the case of an employer engaged in the business of manufacture or production of
pharmaceuticals, the value of fringe benefits for the purposes referred to in clauses
and
of
sub-section
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in
clause
of sub-section
in the case of an employer engaged in the business of manufacture or production of computer
software, the value of fringe benefits for the purposes referred to in clauses
and
of sub-section
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause
of
sub-section
in the case of an employer engaged in the business of carriage of passengers or goods by
aircraft, the value of fringe benefits for the purposes referred to in clause
of sub-section
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause
of
sub-section
in the case of an employer engaged in the business of carriage of passengers or goods by
ship, the value of fringe benefits for the purposes referred to in clause
of sub-section
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause
of
sub-section
in the case of an employer engaged in the business of carriage of passengers or goods by
motor car, the value of fringe benefits for the purposes referred to in clause
of sub-section
of section 115WB shall be “five per cent” instead of “twenty per cent” referred to in clause
of
sub-section
in the case of an employer engaged in the business of carriage of passengers or goods by
aircraft, the value of fringe benefits for the purposes referred to in clause
of sub-section
of section 115WB shall be taken as Nil.
C.—Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect
thereof
115WD. Return of fringe benefits.—
Without prejudice to the provisions contained in section
139, every employer who during a previous year has paid or made provision for payment of fringe
benefits to his employees, shall, on or before the due date, furnish or cause to be furnished a return of
fringe benefits to the Assessing Officer in the prescribed form and verified in the prescribed manner and
setting forth such other particulars as may be prescribed, in respect of the previous year.
Explanation.—In this sub-section, “due date” means,—
where the employer is—
a company; or
a person (other than a company) whose accounts are required to be audited under this
Act or under any other law for the time being in force,
the 2[30th day of September] of the assessment year;