Please tell me the minimum exemption limit to applicable
Fringe Benefit Tax.
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Answer / venkat
no limit of exemption in respect of fringe benefit tax.
| Is This Answer Correct ? | 21 Yes | 1 No |
Answer / apar jain
In Fringe Benefit Tax there is no exemption limit.
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / 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 |
Answer / megha arora
There is no exemption limit for FBT.Whether there is profit
or loss FBT is mandatory.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / pramod shukla
No exemption limit to fring benifit Tax and fringe benifit
tax no mandatroy financial year 2011-12
| Is This Answer Correct ? | 0 Yes | 0 No |
I want to know the TDS ammount which deducted by company.
Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!
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