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What is fring benifit tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 September 2011 Hi to All,
Can anyone tell what is fringe Benifit Tax, and how it works, in what cases it comes in existence?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
29 September 2011 Fringe benefit tax is no more applicable. It was abolished.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2011 Hi to All,
Fringe Benifit Tax was abolished,But what it was. How was calculating it. what was its transactions
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CA Amit Joshi

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CA Amit Joshi (Expert)
29 September 2011 hii.
FBT is a new tax imposed by the govt on benefits provided by employers to there employees. It was claculated on the amount of expenditure as per the prescribed rates, but now its abolished ant not in existances.
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