Could any one please list down major differences between Fringe Benefits and Perquisites.
Thanks in advance
3 Replies
CA SUDIPTA SINHA
(Commerce Coaching- Accounts Cost FM)
(735 Points)
Replied 14 March 2009
the perqusites are covered u/s 17(2) of the IT Act and the FBT is covered u/s 115WA,115WB and 115WC. the basic difference between these two is that perquisites are taxable in the hands of the employee but fringe benefits are taxable in the hands of the owner.
RANGARAM S
(IPCC Student/Share Trading)
(155 Points)
Replied 15 March 2009
Hi Sinha,
Thanks for the reply. Please let me know the difference in definitions of the terms,if any.
RANGARAM S
(IPCC Student/Share Trading)
(155 Points)
Replied 15 March 2009
Hi Sinha,
Thanks for the reply. Please let me know the difference in definitions of the terms,if any.
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