I recently came across many articles regarding the changes & abolition of FBT but none was clear enough to give me the background of the story.... So i hv some doubts---
1. Why was FBT introduced in the first place???
2. What was the need to abolish FBT in the current scenario???
3. Is it favourable or vice versa???
Thnx
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Concept & history of FBT
Replies (2)
Kindly reply.....it would be gr8 if u could elaborate on the answers
1: Finance Ministry are greedy to the core.
2: There was big pressure from Corporates to abolish FBT and our FM duly obliged.
3: Now the old system of taxing perquisite on the Salaried Class comes back. Plainly speaking, middle class salaried people are being milked for most taxes while the corporates are being licked all over. Sorry for my language but thats what our Govt does.
Whether its good or bad? Students have to go round and round to study FBT and then find need to re-learn the whole chapter all over again.
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