what do you mean by fringe benefit tax???

Answer Posted / sanjay kumar

Employer expand some expenses on welfare to the staff then
government charge taxes on these expenses from the employer
firs value has been calculated on the expenses bearer by
the employee. rate are 5%, 20%, 50% applicable according to
nature of expenses
after calculating the value of fbt

now rate has been charged on value of fbt, the rate is 30%
plus 2% education cess and 1% secondary & higher education
cess
total rate is 33.90%

Is This Answer Correct ?    18 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

We made full payment to contractor and forget to deduct TDS on that.Now contractor ledger is fully settled and we have to pass the TDS entries on that. Kindly guide rectify the entries on tds

1735


Pls can you write briefly about procedure of Auditing of VAT, Service Tax and Central Excise?

1597


we have paid excess tds amount in 194I 27000/- for f.y.2017-18 now can we adjust the same in upcoming month 2018-19?

902


Is Work Contract Tax expenses for a company?

1080


If any new form open than we are able to deduct TDS on first year

1798






What is Form-I, FORM-F, FORM-H, FORM-E and FORM-C?

7944


interest paid to bank rs. 15000 in connection with overdraft obtained for paying dividend.

3941


If i want to change a proprietor concern yo a partnership concern. do i have to pay full tax on every product i have in stock or just simple make a partnership deed and apply a new pan card and register in sale tax department ?

1595


If a person purchased goods by paying vat but while selling no vat has been collected and if he is registering his firm under vat need to pay vat after registration?

1160


hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?

5757


Please help me to find VAT Rates of the follwing Items in A.P 1.Fiber Glass -CSM -Roving W.R Polyster Resin G.P{general purpose)Roofing,ISO Thanks & Regards Mohan .V

1399


How to determine TDS on Salary ? what are Limit for HRA ,insurance premium , Loan installment, children education fee etc. what type of Deductions for salary. please Explain Full and complete this concept with one example which cover all aspects regarding TDS on Salary.

1534


Why TDS is not deducted on JSTF Contribution of Hinjewadi Industries Association?

1740


if i the vendor is providing us some printing material & they issue a bill of printing with including Vat so what can i deduct TDS ?

1572


what is service tax? how its count? and why its count?

1552