Answer / rajesh cfa

Fringe Benefits [Section 115wb (1) And (2)]
As per section 115 WB [1] – Means Benefits, any consideration provided for employment
1. Any privilege, service, facility or amenity directly or indirectly provided by an employer whether by way of reimbursement or to his employees [including former employee or employees] and

2. Any free or concessional ticket provided by the employer for Private journey of his employees or their family members and

3. Any Contribution by the employer to an approved Super annuation fund for employees. The above definition of fringe benefits consists of three clauses. Clauses (b) and (c) are specific cases of fringe benefits.

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