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suparna k s (Querist)
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04 November 2009
Dear all,

What is the impact of FBT abolition with respect to perquisites taxation?

Many perquisites taxable under salary were moved to the net of FBT. Due to the abolition of FBT, whether the same provisions of perquisites taxation which were prevailing under salary provisions are applicable?

How should we tax the following?
1. Books and Periodicals
2. Telephone expenses
3. Motor Cars
4. Two wheelers

Kindly give the details about the same..

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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04 November 2009 Same old provisions of Rule 3 is applicable

http://www.icai.org.in/resource_file/15992suppcca.pdf

Read Rule 3 from page 26 in the above link