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3. Perquisites Taxable In The Hands Of Employees V/S Fringe Benefits Tax’"[ Assessments of 'Fringe Benefits' ]

 

With the introduction of FBT, the whole provisions regarding taxation of erquisites/fringe benefits can be summarised as follows

(A) Perquisites Taxable in the hands of Employees

The perquisites which can be directly attributed to employees will continue to be taxed in the hands of the employer in accordance with the existing provision of section 17(2) of the Income Tax Act, 1961 subject to the method of valuation outlined in rule 3 of the Income Tax Rules, 1962.

(B) Perquisites Liable to FBT

In the following cases the perquisites given by employer to employees are laible to FBT in the hands of employer

(a) The perquisites which are not attributable individually to employees, or

(b) The perquisites which are not taxable in the hands of employer.
 
 
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Assessment of Fringe Benefit Tax (FBT) - An Introduction
Rationale And Meaning Of ‘Fringe Benefits Tax’ : Assessments of ' Fringe Benefits'
Perquisites Taxable In The Hands Of Employees V/S Fringe Benefits Tax : Assessments of ' Fringe Benefits'
Feature Of Fringe Benefits Tax : Assessments of ' Fringe Benefits'
Meaning Of Certain Expressions [ Section 115W] : Assessments of ' Fringe Benefits'
Charge Of Fringe Benefit Tax [Section 115WA ] : Assessments of ' Fringe Benefits'
Fringe Benefits [Section 115WB] : Assessments of ' Fringe Benefits'
Some Examples of Fringe Benefits : Assessments of ' Fringe Benefits'
Some Examples Of Benefits Which Are Not Fringe Benefits : Assessments of ' Fringe Benefits'
Value Of Fringe Benefits [Section 115WC] : Assessments of ' Fringe Benefits'
Advance Tax In Respect Of Fringe Benefits : Assessments of ' Fringe Benefits'
Return Of Fringe Benefits [Section 115WD] : Assessments of ' Fringe Benefits'
Assessment Of Fringe Benefits [Section 115WE ]
Best Judgement Assessment [Section 115WF ] : Assessments of ' Fringe Benefits'
Time Limit - Completion Of Assessment U/s-115WF-Sec-153 Amendment
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Section 115WH :Issue Of Notice Where Fringe Benefits Have Escaped Assessment
Payment Of Fringe Benefit Tax [Section 115WI ] : Assessments of ' Fringe Benefits'
Advance Tax In Respect Of Fringe Benefits [Section 115WJ ] : Assessments of ' Fringe Benefits'
Interest For Default In Furnishing Return Of Fringe Benefits [Section 115WK]
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Abetment Of False Return Filed U/s-115WD(1) or U/s 115WH(2)[Section-278] : Assessments of ' Fringe Benefits'
Amendment Of Section 119 [Section-115WL] : Assessments of ' Fringe Benefits'
 
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