(1) Subject to subsection (1A), this section applies to emoluments in the form of -

(a) perquisites and profits whatever which are chargeable to tax under section 112 including

(i) an expense incurred by a body corporate in the provision of a benefit for an employee which is treated as a perquisite for the purposes of section 112 by virtue of section 118,

(ii) the benefit arising from a preferential loan which is treated as a perquisite for the purposes of section 112 by virtue of section 122, and

(iii) a perquisite to which section 112A or 112AA applies,

(b) the benefit of the private use of a car which is chargeable to tax by virtue of section 121,