29 April 2008
Hello Deepika FBT is a tax levied u/s 115W of Income Tax Act,1961. It is chargeble on an employer on certain expenditure referred in Section 115 WB(1) and 115 WB(2. There are appx 18 taxable fringe benefits on which tax to be paid by employer. The tax is to be paid @ 30% plus surcharge and cess on the value of fringe benefits calculated according to the provision of income tax act. The return of FBT is to be submitted along with the return of income In case of any other clarification feel free to write me,
29 April 2008
hello, deepika FBT is not a simple issue to tell in one word sentences. there are so many interesting points in it. try to read the recommende book and ask any quary basing upon your understanding
CAclubindia
