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Our Bureau

Bangalore , June 23

THE newly introduced Fringe Benefit Tax (FBT) should be given a trial before viewing it as a disincentive for business and industry.

"Whether it is a progressive or a retrograde step could not be prejudged before its objective and benefits are properly evaluated. Give it a trial run," said Mr J.K. Rao, Chief Commissioner of Income Tax, Bangalore and Goa. He was addressing members of the Bangalore Chamber of Industry and Commerce (BCIC) here on Thursday.

Fora such as the BCIC should apply wisdom to come out with concrete suggestions to improve the FBT. Though it was new and the model was imbibed from another country, the measures per se were not out of tune with the objectives of resource generation for equitable wealth distribution, Mr Rao said adding any fine-tuning could be done as the economy evolved itself.

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