Section 115W of Income Tax Act "Definitions"
115W. In this Chapter, unless the context otherwise
requires,-
(a) "employer" means,-
(i) a company;
(ii) a firm;
(iii) an association of persons or a body of individuals,
whether incorporated or not;
(iv) a local authority; and
(v) every artificial juridical person, not falling within
any of the preceding sub-clauses:
Provided that any person eligible for exemption under clause
(23C) of section 10 or registered under section 12AA or a
political party registered under section 29A of the
Representation of the People Act, 1951 (43 of 1951) shall
not be deemed to be an employer for the purposes of this
Chapter;
(b) "fringe benefit tax" or "tax" means the tax chargeable
under section 115WA.
115WA. (1) In addition to the income-tax charged under
this Act, there shall be charged for every assessment year
commencing on or after the 1st day of April, 2006,
additional income-tax (in this Act referred to as fringe
benefit tax) in respect of the fringe benefits provided or
deemed to have been provided by an employer to his employees
during the previous year at the rate of thirty per cent on
the value of such fringe benefits.
(2) Notwithstanding that no income-tax is payable by an
employer on his total income computed in accordance with the
provisions of this Act, the tax on fringe benefits shall be
payable by such employer.