30 December 2009
There are deeming provisions in fringe benefit for the purpose of fringe benefit tax whereas perquisities are the facilities really given.
For practical purpose; fringe benefits are those which are without any contractual obligations whereas perquisities are given as part of salary by the employer.
30 December 2009
The above contention is very true. Fringe benefit Tax Is an additional tax payable by the employer inconnection with the benefit or amenities provided by the employer to his employee.
FBT shall be payable by the employer.
Perquisite on the other hand tax liability shall be cast on the employee in connection with the benefit or amenity received whether at free of cost or at concessional rate.
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