03 April 2008
FBT makes no distinction between assessees. If any assessee has employees and they have incurred expenditure of the type mentioned FBT is payable.Why is this qustion?
03 April 2008
UNDER DEEMED FRINGE BENEFITS IN SECTION 115WB(2),IN THE CATEGORY OF USE OF THE HOTEL,BOARDING OR LODGING FACILITIES, THE RATE OF TAX (FBT) IS 5%, WHERE AS FOR OTHER GENERAL CATEGORIES THE FBT RATE IS 20%. THE EXACT PHRASE OF WORDS USED IN THIS CATEGORY IS " MANUFACTURE/PRODUCTION OF COMPUTER SOFTWARE". NO DIFFERENCE WAS MADE OR SHOWN BETWEEN SOFTWARE DEV. OR INFORMATION TECH.COS. WHAT IS ENVISAGED FOR FBT IS AN EMPLOYEE AND EMPLOYER RELATIONSHIP WHICH IS ESSENTIAL TO ATTRACT FBT. R.V.RAO
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