1Notwithstanding anything contained in any agreement or scheme under which any
specified security or sweat equity shares referred to in clause (d) of
sub-section (1) of section 115WB has been allotted or transferred, directly or
indirectly, by the employer on or after the 1st day of April, 2007, it shall be
lawful for the employer to vary the agreement or scheme under which such
specified security or sweat equity shares has been allotted or transferred so as
to recover from the employee the fringe benefit tax to the extent to which such
employer is liable to pay the fringe benefit tax in relation to the value of
fringe benefits provided to the employee and determined under clause (ba) of
sub-section (1) of section 115WC.
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1. Ins. by Act 22 of 2007, s. 41 (w.e.f. 1-4-2007).
Section 115WA Charge of fringe benefit tax
Section 115WC Value of fringe benefits
Section 115WD Return of fringe benefits
Section 115WF Best judgment assessment
Section 115WG Fringe benefits escaping assessment
Section 115WH Issue of notice where fringe benefits have escaped assessment
Section 115WI Payment of fringe benefit tax
Section 115WJ Advance tax in respect of fringe benefits
Section 115WK Interest for default in furnishing return of fringe benefits
Section 115WKA Recovery of fringe benefit tax by the employer from the employee
Section 115WKB Deemed payment of tax by employee
Section 115WL Application of other provisions of this Act
Section 115WM Chapter XII-H not to apply after a certain date