Income-tax Act, 1961

Section - 115WJ - Advance tax in respect of fringe benefits

Advance tax in respect of fringe benefits.

115WJ. (1) Every assessee who is liable to pay advance tax under section 115WI, shall on his own accord, pay advance tax on his current fringe benefits calculated in the manner laid down in sub-section (2).

(2) Advance tax on the current fringe benefits shall be payable by-

(a)- all the companies, who are liable to pay the same in four instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table I below:
TABLE I

Due date of instalmentAmount payable
On or before the 15th JuneNot less than fifteen per cent of such advance tax.
On or before the 15th SeptemberNot less than forty-five per cent of such advance tax as reduced by the amount, if any, paid in the earlier instalment.
On or before the 15th DecemberNot less than seventy-five per cent of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments.
On or before the 15 .... To read the full section download the app from Google Play store