Abolition of FBT
This query is : Resolved
Yasmin Salim Shaikh
(Querist)
06 November 2009
Good Afternoon,
I had a query related to the tax impact on perquisites recd from employer which were earlier taxed as Fringe Benefits in the hands of employer.
Q1) After the abolition of FBT how will the Perquisites Eg; Motor car facility be taxed in the hands of Employee?
I had a query related to the tax impact on perquisites recd from employer which were earlier taxed as Fringe Benefits in the hands of employer.
Q1) After the abolition of FBT how will the Perquisites Eg; Motor car facility be taxed in the hands of Employee?
CA SANJAY MUKHERJEE
(Expert)
06 November 2009
Yes It would be taxed as perquite for valuation check this link
https://www.icai.org.in/resource_file/15992suppcca.pdf
https://www.icai.org.in/resource_file/15992suppcca.pdf
Yasmin Salim Shaikh
(Querist)
06 November 2009
Thank u sir for the reply.
Further to clarify does it mean that we calculate the perks similarly the way we do if the perks r recd from an Individual Employer who was never liable for FBT?
Further to clarify does it mean that we calculate the perks similarly the way we do if the perks r recd from an Individual Employer who was never liable for FBT?
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