FBT

Dear Rajeev,

Perks/Expenditure which were subject to FBT was exempt in the hands of employees

But now since the FBT has been abolished those perks/benefits would again be taxable in the hands of employees..

Eg -

1) Motor Car facility

2) Gifts

3) Telephone reimbusements, etc

dear amir

if employer give a motor car facility to employees then its all taxable in the hand of employee.and there is not motor car allowances treatment

dear amir

if employer give a motor car facility to employees then its all taxable in the hand of employee.and there is no motor car allowances treatment

Dear Rajeev,

Till the time FBT was there, "Expenses on running & maintenance of Motor Car (including Depreciation thereon) was chargeable to FBT, & hence not considered as perquisite in the hands of employees"

Dear Rajeev if car facility is provided to employee it is taxable as per provision of income tax "valuation of Perquisite".

If Car Allowance is provided to employee it is fully taxable under income tax act.

Correct me if  i am wrong..............