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Fringe benifit tax

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(Querist)
19 September 2013 Let me know Provision for Fringe benefitt tax is equal to provision for employee benefit.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
19 September 2013 Fringe Benefit Tax (FBT) was introduced as part of Finance Act, 2005 as an additional income-tax and came into force from April 1, 2005. The term Fringe Benefits means ‘any consideration for employment provided by way of any privilege, service, facility or amenity provided by the employer to the employees’.

Fringe Benefit Tax is to be levied on the employer in respect of fringe benefits provided/deemed to be provided by the employer to his employees during any financial year commencing on or after 1.4.2005.


FBT was abolished w.e.f. 01.04.2009 i.e., AY 2010-11.
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Ajay Mishra

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Ajay Mishra (Expert)
19 September 2013 Agreed with Expert.......


Fringe Benefit Tax stands withdrawn with effect from the Assessment Year commencing from 1st April 2010 in terms of Finance Act 2009.
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