Business Daily from THE HINDU group of publications
Monday, Aug 03, 2009
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Business Daily from THE HINDU group of publications Monday, Aug 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Income Tax Columns - For the Asking FBT abolished What happens to the fringe benefits enjoyed by employees now that FBT (fringe benefit tax) has been abolished? There is a view that losing companies would be the major beneficiaries of the abolition. How? Martin D’Souza, Panaji
They would be taxable in the hands of the employees. In other words, we are back to the days of pre-FBT regime.
The CBDT would notify rules or simply restore the same rules. It is true that the vexatious tax rubbed the losing companies more on the wrong side because they were called upon to pay FBT even in the face of loss. For them especially, it would be a good riddance. S. MURLIDHARAN ASK! Send in your queries to ask@thehindu.co.inMore Stories on : Income Tax | For the Asking
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