| Originally posted by : rachit jain | ||
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@ uma u said "car benefit to employee would now be chargeable to employee as perquisites due to abolition of FBT would not be applicable for students appearing for may 2010 attempt" but in the RTP of may 10 pcc examination it is chargeble in the hand of employee.. |
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Rachit Car perquisite was taxable in the hands of employee if his employer was not subject to F.B.T. Means if employer pays Fringe Benefit Tax (F.B.T.) for the perquisites provided by him to employee then perquisite was not taxable in the hands of employee but if employer is not liable to pay F.B.T. then this facility is taxable in the hands of employee. Due to abolition of F.B.T. this facility and all other perquisites which were subject to F.B.T. are now taxable in the hands of employee. So car facility is also taxable in the hands of ALL employee.
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