The Finance Act, 2005, has inserted in the Income-Tax Act, 1961(the Act), a new Chapter XII-H. This Chapter deals with a new tax known as, ‘Fringe Benefit Tax’ (FBT) and it contains Sections 115W to 115WL. Chapter XII-H has come into effect from 1.4.2006 viz. assessment year (AY) 2006-07, relevant to the financial year (FY) 2005-06.
Notification No. 170-Income Tax In the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 713(E), dated the 25th May, 2005, published in the Gazette of India, Extraordinary, Part – II, Section 3, sub-section (ii) dated 25th May, 2005, in line 2 from the bottom, for “Rs. 40 lakhs plus a corpus fund of Rs. 20.00 lakhs,” read “Rs. 20.00 lakhs plus a corpus fund of Rs. 40.00 lakhs”.
Notification No. 169-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 862(E), dated the 12th December, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, for Running of Polio Hospital
Notification No. 168-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 915(E), dated the 27th August, 2002, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, for Construction of additional
Notification No. 167-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 180(E), dated the 10th March, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, for Land development, construction
Notification No. 166-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1084(E), dated the 11th October, 2002, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, for Running of Smt. Savitaben
Notification No. 165-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 267(E), dated the 23rd March, 2000, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, for running of animal shelter
Notification No. 164-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1237(E) dated the 28th October, 2003, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, for Mid day Meal Program run by
Notification No. 163-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1275(E), dated the 9th December, 2002, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, for Disability Reduction Project
Notification No. 162-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 267(E), dated the 29th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, for Administration and maintenance
