banner_ad

44AD ,Firm and Fringe Benefit Tax !

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 December 2007 When a firm declares 8% Net Profit on its gross receipts under section 44AD,what shall be the value of fringe benefit and on what amount the FBT shall be payable?
Profile Image

R.V.RAO

Profile Image

R.V.RAO (Expert)
04 December 2007 THE CHARGING SECTION FOR FBT IS SEC 115WA WHICH SAYS IF FRINGE BENEFITS ARE PROVIDED BY EMLPLOYER TO ITS EMPLOYEES DURING THE PREVIOUS YEAR FBT IS PAYABLE .
THE MEANINDG AND VALUE OF EACH FRINGE BENEFIT IS GIVEN IN SEC 115WB AND 115WC RESPECTIVELY.
BUT FBT IS NOT BASED ON NET PROFIT OR % PROFIT TO GROSS RECEIPTS.
EMPLOYER AND EMPLOYEE RELATIONSHIP IS VITAL TO ATTRACT FBT.IF NO EMPLOYEE, NO FBT
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details