Lawzonline.com 
 
Home|Discussion Forum|Communities|Professional Search|Law Dictionary|Bare Acts|Law Schools|State Bare Acts|Free Judgement Search|Law quotes
Articles  |    Humor    |    Law Digest
 
 
Bare acts search

 
  
Bare acts > Finance Act, 2008 > Section 25
 
  


 

25. Amendment of section 115WB.- In section 115WB of the Income-tax Act,-

(a) in sub-section (1), in the Explanation to clause (d), in clause (i), for the words "and includes employees' stock option", the words "and, where employees' stock option has been granted under any plan or scheme therefor, includes the securities offered under such plan or scheme" shall be substituted;

(b) in sub-section (2), with effect from the 1st day of April, 2009,-

(I) in clause (B), after sub-clause (ii), the following sub-clause shall be inserted, namely:-

''(iii) any expenditure on or payment through non-transferable pre-paid electronic meal card usable only at eating joints or outlets and which fulfils such other conditions as may be prescribed;";

(II) in clause (E), for the Explanation, the following Explanation shall be substituted, namely:-

''Explanation.-For the purposes of this clause, any expenditure incurred or payment made to-

(i) fulfil any statutory obligation; or

(ii) mitigate occupational hazards; or

(iii) provide first aid facilities in the hospital or dispensary run by the employer; or

(iv) provide crŠche facility for the children of the employee; or

(v) sponsor a sportsman, being an employee; or

(vi) organise sports events for employees, shall not be considered as expenditure for employees' welfare;";

(III) clause (K) shall be omitted.

 

 

 

 

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

 

 

Quick Links     
      
Family LawsInsurance LawsEnvironmental lawTax LawFDI 
Company LawTelecommunication LawLabour LawsCentral RulesRBI 
Business & Commercial LawsConsumer lawsCorporate lawsCriminal lawsSEBI 
Intellectual Property lawMedia & Press lawsPharma & Medical lawsProperty lawFEMA 
Debt Recovery LawsAmendmentsProfessional lawBanking LawsLegal Links 
      
      
 
 
 
 
 

 
   
 

 

 

Privacy PolicyDisclaimer

Copyright @2010