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What is mean by FBT (Fringe Benfit Tax)? How to calculate this?
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Answer / h.r. sreepada bhagi
FBT means the taxes levied by the Central Government on
Fringe benefits. it has been withdrawn from the Assessment
year 2010-11. Now it's not in force in India.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / yogesh
FBT as a tax was levied on the financial resources spent on
firm's secondary operations like travelling , phone
bills , refreshments and all that .
| Is This Answer Correct ? | 0 Yes | 0 No |
The CST assessement for the FY 2006-07 is completed on 31-3- 2010 and the same is received by dealer on 22-4-10. The question is that the dealer colud not produced the original H Forms at the time time asst. except the photostat copies filed. But the CTO not allowed and calculate tax at net 4% on H Forms turnover. CTO is saying that it is time barred by 31-3-10. Therefore even after produced we can not revise. We filed with case laws that it can be revised But when it is time barred it canot be. Therefore I request You to help the dealer ANYCASE LAW is there in the above case Pl. guide us.
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