Income-tax Act, 1961
Section - 115WB - Fringe benefits
Fringe benefits.115WB. (1) For the purposes of this Chapter, "fringe benefits" means any consideration for employment provided by way of-
| (a) | - | any privilege, service, facility or amenity, directly or indirectly, provided by an employer, whether by way of reimbursement or otherwise, to his employees (including former employee or employees); |
| (b) | - | any free or concessional ticket provided by the employer for private journeys of his employees or their family members; |
| (c) | - | any contribution by the employer to an approved superannuation fund for employees ; and |
| (d) | - | any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the employer free of cost or at concessional rate to his employees (including former employee or employees). |
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