FBT???

Hi Ramanju,

our respected Finance Minister, Mr Pranab mukherjee, has made the statement "I propose to abolish Frienge Benefit Tax". So the entire provision related to FBT shall henceforth be abolished in its entirety.

any idea how the componens would change in the compensation structure? Since the re-imbursement components are not being taxed at employer (No FBT).

are all reimbursemenet components are taxed at individual employees and what percentgae?

any inputs?

thanks

 Hello sir

I want to ask 

will we have to charge FBT for C.Y 2008-09, means A.Y 2009-10 or not or not charging of F.B.T will be applicable from next year i.e A.Y-09-10.

FBT is abolished only for AY 2010-11 not for AY 2009-10 hence you have to discharge your FBT liabiliyt

d finance bill has not been passed yet..will pass in bout 2 weeks n become an act..our FM will clarify thgs by den..FBT is abolished..bt der is no clarification on whether d perks wud b taxable 2 employees or not..as d FM was mum on it..

FBT fully abolished

FBT is going to fully abolished from 1st April, 2010. By then, you have to pay the tax that has become your liability on account of FBT.

FBT fully abolished