FBT

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Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2011 Is FBT is liable on Foreign Travel of directors

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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15 June 2011 FBT IS THING OF PAST NO FBT IS LEVIABLE FROM AY 2010-11

Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2011 NO M TALKING ABT A CASE WHICH RELATE TO ASSESSMENT YEAR 2006-07

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 June 2011 AGREE WITH THE EXPERTS.

Fringe Benefit Tax [Section 115w (B)]
“Fringe Benefit Tax” or “Tax” means the tax chargeable under section 115WA.
Fringe Benefit Tax helps in eliminating discretion. Under FBT, scope for evasion is very very limited. FBT will increase effective rate of corporate tax by 1 to 1.5%. FBT is one method of requiring corporates to pay a little more tax.

Applicability:
The Fringe Benefit tax is a tax to be paid by an employer in addition to the income tax payable for every assessment year starting from the assessment year 2006-07.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 June 2011 http://www.ajaygarg.com/FBT%20returns%20&%20assessments.doc