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TMI BlogFringe benefitsX X X X Extracts X X X X X X X X Extracts X X X X ..... shares allotted or transferred, directly or indirectly, by the employer free of cost or at concessional rate to his employees (including former employee or employees). Explanation .-For the purposes of this clause,- (i) specified security means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) 11 [ and, where employees' stock option has been granted under any plan or scheme therefor, includes the securities offered under such plan or scheme ] (ii) sweat equity shares means equity shares issued by a company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence shall be deemed to be expenditure incurred for the purposes of conference; (D) sales promotion including publicity: Provided that any expenditure on advertisement,- (i) being the expenditure (including rental) on advertisement of any form in any print (including journals, catalogues or price lists) or electronic media or transport system; (ii) being the expenditure on the holding of, or the participation in, any press conference or business convention, fair or exhibition; (iii) being the expenditure on sponsorship of any sports event or any other event organised by any Government agency or trade association or body; (iv) being the expenditure on the publication in any print or electronic media of any notice required ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cars and the amount of depreciation thereon; (I) repair, running (including fuel) and maintenance of aircrafts and the amount of depreciation thereon; (J) use of telephone (including mobile phone) other than expenditure on leased telephone lines; (K) 15 [****] (L) festival celebrations; (M) use of health club and similar facilities; (N) use of any other club facilities; (O) gifts; and 9 (P) scholarships; 7 [(Q) tour and travel (including foreign travel).] (3) For the purposes of sub-section (1), the privilege, service, facility or amenity does not include perquisites in respect of which tax is paid or payable by the employee 8 [ or any benefit or amenity in the nature of free or subsidised transport ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1-4-2009. Prior to substitution it was read as under: Explanation .-For the purposes of this clause, any expenditure incurred or payment made to fulfil any statutory obligation or mitigate occupational hazards or provide first aid facilities in the hospital or dispensary run by the employer shall not be considered as expenditure for employees' welfare; 15. Omitted by Finance Act, 2008, w.e.f.1.4.2009. Prior to omission it was read as under: maintenance of any accommodation in the nature of guest house other than accommodation used for training purposes; - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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