what is F B T?
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Answer / anuj kumar
firstly its full form is frienge benefit tax.\
It is basically introduced due to perqusits which are given
to employer to employee which are not taxed in both the
hands now they are taxable.
for example petrol exp. of four wheeler which can be used
for personal & official both.
There must exist employer & employee relationship.
Tax Rate is 30% + surcharge + education cess 3%
Is This Answer Correct ? | 17 Yes | 1 No |
Answer / rajesh
FBT means Fringe Benifit Tax. this tax collection from
Partneship firm and companies. its special tax. this tax
calculate from expenses for the firm. exm. telephone
expenses, staff welfare (outside of factory), conveyance,
travelling
Is This Answer Correct ? | 13 Yes | 3 No |
Answer / gs
FBT means Fringe Benefit Tax.
It is basically introduced due to perquisites which are given to employer to employee which are not taxed in both the hands now they are taxable. There must exist employer & employee relationship & these one can be calculated as below:-
Tax Rate + surcharge + education cess
Is This Answer Correct ? | 1 Yes | 0 No |
Mr.Jadhike owns a fleet of taxis adn the following information are available from the records maintained b him: 1.Number of taxis 10 2.salary of manager 600pm 3.cost of each taxi 20000 4.salary of cleaner 500pm 5.salary of mechanic 400 pm 6.garage rent 600pm 7.insurance premium 5%pa 8.annual tax 600 per taxi 9.driver salary 200 pm per taxi annual repair 1000 per taxi total life of a taxi is about 200000 kms. a taxi runs in all 3000kms in a month of which 30% it runs empty. Petrol consumption in one litre for 10kms@1.80 per litre. Oil and other are rs 5 per 100 kms calculate the cost of running a taxi per km 5
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