what is a rate of Fbt?
This query is : Resolved
01 October 2008
Plz clear a point of FBT as well as tell me FBT rates and how its treat
01 October 2008
FBT is fringe benefit tax
Basically, the objective is to recognize the expenses which are related with over employees and average 6.5% of those expenses are FB tax amount which every employer is suppose to pay
Please read the basic books on IT to understand the concept in more detail.In case of any specific query ,write again
Basically, the objective is to recognize the expenses which are related with over employees and average 6.5% of those expenses are FB tax amount which every employer is suppose to pay
Please read the basic books on IT to understand the concept in more detail.In case of any specific query ,write again
01 October 2008
FBT rate is 30%+surcharge+Cess=33.66%
First we calculate value of that benefit, which can be 100%, 50% ,20% as per IT Act.
Then calculate tax.
First we calculate value of that benefit, which can be 100%, 50% ,20% as per IT Act.
Then calculate tax.
01 October 2008
FBT is leviable on various expenses which are subject to FBT.
1. Identify if the expenditure is subject to FBT.
2. Calculate the value of expenditure liable to FBT. this can be 100%,50% or 20%.
3. Apply 33.99% on the total value of expenses liable to FBT.
Also, pelase read various presentations on FBT available in this site.
1. Identify if the expenditure is subject to FBT.
2. Calculate the value of expenditure liable to FBT. this can be 100%,50% or 20%.
3. Apply 33.99% on the total value of expenses liable to FBT.
Also, pelase read various presentations on FBT available in this site.
01 October 2008
In certain cases it can be 5% also, like for Travelling Expenses.
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