FBT Tax
Rajeev Tiwari FEATURES OF FBT 1. Fringe Benefits Tax should be pay by an employer. 2. Fringe Benefit Tax is an example of direct tax. 3. An employer has to pay Fringe Benefit on the total income. EMPLOYER CATEGORIES Artificial Juridical Person Association of Persons Body of individuals Firms/ Domestic Companies Local Authority Non – Domestic Companies BENEFITS LIST Entertainment Hospitality Conference Sales promotion including publicity Employee welfare Conveyance, tours and travel Hotel, boarding, lodging Repair, running and maintenance of cars Repair, running and maintenance of aircraft Use of telephone Festival celebrations Health Club Any other club Gifts FBT ACTIVATION STEPS IN TALLY ERP-9 1. Open an already existing company 2. Press “F11” key. 3. Select the “Statutory & ...