Answer Posted / vishwajeet
FBT is the short form of FRINGE BENEFIT TAX newly introduced
in the budget 2005.
Tax on the expenses paid by the assessee during the
financial year. Expenses such as telephone expenses . food
and beverages, client entertainment expenses , etc. for
further details like limits, advance tax and date of payment
and assessment and appeals please refer section 115WA
onwards for the Income tax Act (Ammendment) Act 2005.
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