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Govt collects Rs 583 cr from FBT in Q1

Our Bureau

New Delhi , Aug. 16

THE Union Government has collected nearly Rs 583 crore as fringe benefit tax (FBT) during the first quarter of the current financial year.

The banking cash transaction tax (BCTT) realised during the same period stood at Rs 20 crore. Mr S.S. Palanimanickam, Minister of State for Finance, stated this in a written reply to a question raised in Parliament.

While highlighting that the BCTT came into effect on June 1, 2005, the Minister pointed out that the Q1 collections actually represent the collections of only one month.

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Punjab National Bank TMB Ltd

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