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If Company Is Giving Conveyance Allowance,is There Be Any Fringe Benefit Tax?
Question by siddharthguj | Posted in India
If firm is giving Conveyance allowance,is there be any fringe benefit tax?
Answer: FBT is befitting only on non-cash benefits available to the employees. All kinds of allowances are taxable in the hands of the employees itself.
FBT would be right if the conveyance bills are submitted & employer is reimbursing the same , at the percentage
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Any Legal Decisions On Legal Validity Of Fringe Benefit Tax Yet ?
Question by pareshan | Posted in India
Many cases were filed against placement of Fringe Benefit Tax before High Courts & Supreme Court. Has any decision been delivered yet , either for or against ? Is'nt this a case of Justness DELAYED - JUSTICE DENIED ?
Answer: Who gave you this chewing-out share of info? Some Fringe Benefits are exmpt from Tax fully ; others are partially taxed.The I-T Act, 1961 as amended from continually to time specifies these.
There are some cases lying pending the judgment of the Court.But, many have been clear long ago. You can't
How To Calculate Fringe Benefit Tax As Per Income Tax Act Of India?
Question by vdkotak1971 | Posted in India
Fringe Benefit Tax prediction
Answer: hi macaroni...............the rate of tax is same ...............(as per income tax slab) but the amount on which FBT should be deducted differs .............its like some piece ( 5% or 10% or 50 %) of the the total expenses incurred in the FY .................wagerer get a FBT book for detailed expense
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Taxable Fringe Benefit Guide
The Taxable Fringe Benefits Steer was created by the Internal Revenue ... understanding of the Federal tax rules relating to hand fringe benefits and reporting. ...
