What is Fringe benifits tax?
Answers were Sorted based on User's Feedback
Answer / ankit trivedi
F.B.T is a tax on Expense rather than tax on Income. It is
applicable to specified persons namely Firms, Companies etc.
Individual and H.U.F are exempted from the purview of F.B.T.
Taxable value of specified expenses is determined by
applying the relevant rate (for eg. 30% for conveyance)
specified in chapter XII - H of the Income tax Act, 1961.
Then tax is charged on such taxable value at the flat rate
of 30% (plus surcharge if applicable) plus 3% of education
cess. To avoid penelty in the form of interest Advance
F.B.T. is to be paid every quarter.
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / ashish baisoya
fbt tax is a tax payable by employer for the welfare of
employee
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sourabh
fbt tax is a tax payable by employer on the value of
certain fring benfit their employee
this tax payable by an employer
its due to every fbr year (1apr09 to 31 mar)
fbt is treated by annual tax
Is This Answer Correct ? | 2 Yes | 1 No |
What is mean by BRS?
what is difference between account and accounting
If a professional Musician hired for one time for Rs. 5000/-, is it compulsary to deduct the TDs from that amount?
what is meaning NPA?
While processimg for vendor outgoing payments in f-53 i am getting error massage i.e.exchange rate difference incomplete in vendor g/l account and allowing me to clear the payment,how can i rectify this one,plz guide me?
basic concepts relating to final acount
a trader sold an article for Rs 714/-after allowing discount of 15%.If not allowed discount he would have make 20%profit. If so what will be thwe cost price of the article
What is debit side of dividend?
what is ledger account
Expand --------CAIR
what is diffence between Ltd. Company and Pvt. Ltd. Company
Why the closing stock will not appear in the Trial Balance?