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FRINGE BENEFIT TAX

This query is : Resolved 

22 January 2009 Fringe Benefit Tax is applicable for individual of partnership firm? and what is the critarea of Fringe Benefit Tax for individual of partnership firm?

22 January 2009 The FBT is imposed on the following entities:
1 Company
2 Firm
3 Association of person and body of individuals
4 Local authority
5 Artificial juridical persons

Exempted Entities. The following are not considered employers for the purpose of fringe benefit tax:
* An individual,
* A Hindu undivided family,
* Entity eligible for exemption under section 10(23C) or registered under 12AA,
* Central Government or State Government, and
* A political party.

22 January 2009 It is applicable on individual parteship also



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