Insertion of new sections 115WKA
Section 41 of the Finance Act, 2007 deals with insertion of new sections 115WKA. Insertion of new section 115WKA. 41. After section 115WK of the Income-tax Act, the following section shall be inserted, namely:— "115WKA.
Insertion of new section 115WKA.
41. After section 115WK of the Income-tax Act, the following section shall be inserted, namely:—
"115WKA. Recovery of fringe benefit tax by the employer from the employee.—Notwithstanding 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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Section 41, The Finance Act, 2007.
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Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
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Questions about Section 41
What does Section 41 of the Finance Act deal with?
Section 41 of the Finance Act is headed "Insertion of new sections 115WKA". Insertion of new section 115WKA. 41. After section 115WK of the Income-tax Act, the following section shall be inserted, namely:— "115WKA.
How do I find court cases under Section 41 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2007 41, section 41 Finance Act 2007, section 41 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 41 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 115WK (Interest for default in furnishing return of fringe benefits), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2007. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule7694 words
- 2. Income-tax3111 words
- 6. Amendment of section 101202 words
- 11. Amendment of section 171097 words
- 64. Amendment of section 245D1090 words
- 86. Amendment of section 22D1089 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.