FBT doubts

CA_Expt (ABC) (39 Points)

05 March 2010  

Hi

Few questions on FBT - 

1. Now FBT has been abolished, perks are taxable at the hands of employees. But does FBT meant that employer paid tax on these perks. 

e.g. I avail motor car allowance of 10000, does this mean tax of 10000 was paid by my employer earlier? If yes, was employer allowed to deduct these taxes as expenses for its own tax calculation purposes?

2. I see few perks are still there. e.g. mean coupons, medical reimbursements and so on.

Where I can get list of all such things which are still subjected to FBT?

3. I know few companies which still allow motor car expenses for tax deductions. what about them?

4. Will direct tax code affect this?

(I am not CA or aspiring CA, but I find this forum extremely useful, thanks!)