Effect of Abolishment of FBT

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Kindly tell me the effect of abilishment of FBT on Computation of Salary i.e. which Sec will be there and which will not be there.Also will there be any effect of applicability os any Sec of Salary

 

Replies (2)

at present FBT is abolished so no FBT Tax. In the point of employee the basic rule any tax paid by employer then in the hands of Employee it is Tax free. But present Categary B perquisites are those Gift, Free Miles, and ather some of items are become taxable in the hands of employee 

If the employer pays the tax then tax free for the Employee otherwise it will be taxable to the employee as per the specified provisions for which u need to refer the act dear

this is the general rule(which i have mentioned)

sunil 

 

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