Please tell me the minimum exemption limit to applicable
Fringe Benefit Tax.
Answer Posted / nishat ali khan
As FBT is a tax which is imposed on the extra facility
given by employer to his employees. So there is no
exemption is been given to employer by income tax. FBT
should be paid by paid employer whether the company runs in
profit or not. But income tax has given a facility in case
of deemed FBT u/s 115WB(2) that 20% of the total expense
will be considerd in calculation of FBT but its apply to
u/s115WB(2)(A)to u/sWB(2)(K) where as from u/s115WB(2)(L)
to115WB(2)(P) is 50%. But in case of 115WB(2)(Q)its 5%
Is This Answer Correct ? | 7 Yes | 1 No |
Post New Answer View All Answers
due date for issue of C form, if c form is not issue what will be the consequences
WCT charged on firm or on proprietor?
We need to know is their any govt notification for VAT & Service both applicable for one item or single invoices
Our company is engaged in a business of Real state developer in andhra pradesh. we want to purchase some material from other states. we have central sales tax registration. whether we are eligible for issuing a form 'c' to the supplier being a deeloper.
We have got 5 firms. Same partner only running all the firms. Salary is going from one firm. But if we go for PT registration it is asking number of employees. I don't know how to fill the form in online. Any one can help me?
What is excise & service tax?
can penalty be imposed under sec 96 of vat act west bengalfor goods destroyed or damaged
is WCT applicable one time? and what will be rate of WCT in UP State?
What is meant by Cost of Improvement?
why use diff vat forms like vat51 vat3 why
Rules for filling Income Tax return for a domestic manufacturing company.
what is excise duty and how can we mantain its account in outgoing and incoming of bill status.
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
what is form 8? what are all the details to be collected while buying c form
hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?