I WANT FBT CALCULATION FORMAT AND TAX RATES CHART . PLEASE .......
Is FBT is applicable for FY 09-10? if no then notification
FBT IS ABOLISHED W.E.F. 01/04/2009 I.E. FROM AY 2010-11
Employer should value prequisites as per rule 3 of the Income tax Act, in place of FBT wherever applicable
no FBT IS ABOLISHED NOW AND ADVANCE FBT PAID WILL BE TREATED AS ADVANCE TAX FROM A.Y. 2010-2011.NOW FBT WILL BE TREATED AS PERQUISITE TAXABLE IN THE HANDS OF EMPLOYEE AND EMPLOYER HAS NOW TO DEDUCT TDS WHILE MAKING PAYMENT OF FRINGE BENEFITS
no FBT IS ABOLISHED NOW AND ADVANCE FBT PAID WILL BE TREATED AS ADVANCE TAX FROM A.Y. 2010-2011.NOW FBT WILL BE TREATED AS PERQUISITE TAXABLE IN THE HANDS OF EMPLOYEE AND EMPLOYER HAS NOW TO DEDUCT TDS WHILE MAKING PAYMENT OF FRINGE BENEFITS
Yes FBT is abolished. The FBT alredy paid is treated as advance tax vide circular issued on 29-01-2010
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