Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

F.B.T

sowmya.s (accountant) (78 Points)

13 January 2011

Hello,

Can any one explain me regarding Fringe benifit tax. What it is? To whom it apply? How much need to pay to the government?

I heard that some abolishment made regarding FBT? To whom it apply?

Reply
Follow
Share

1 Replies

Manmohan ACA, CS (Chartered Accountant ) (14243 Points)
Replied 13 January 2011

In terms of the provisions of Chapter XII-H of the Act, an employer, being a company, is liable to pay FBT in respect of the fringe benefits provided or deemed to have been provided by it to its employees, directly or indirectly, during the previous year. It is now abolished.

For general information you can refer /articles/fringe-benefit-tax-at-a-glance--642.asp

1 Like