Fringe Benefit tax
This query is : Resolved
hamsa lekha
(Querist)
25 November 2008
If the comapny is going to take exemption under Section 80IA of the Act, then the company will be zero tax company.
can we avoid the Fringe Benefit Tax on the contention that the comapny is zero tax company.
is there any special requirement to escape from Fringe Benefit tax applicablity.
can we avoid the Fringe Benefit Tax on the contention that the comapny is zero tax company.
is there any special requirement to escape from Fringe Benefit tax applicablity.
CA Hemant T Dewani
(Expert)
25 November 2008
FBT IS PRESUMTION TAX SO WHETER CO EARN PROFIT OR IT HAS EXEMPTED FROM TAX OR NOT SO CO.WILL LIABLE TO FBT
25 November 2008
Whether the company is profit making or not is irrelevant for the purpose of FBT. In the situation referred to in the question, I do not envisage a method to avoid FBT.
hamsa lekha
(Querist)
26 November 2008
Thank you for your valuable reply
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