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For Financial Year April 2005 - March 2006

Income Tax Assessment Year 2006-2007 onwards


India - Fringe Benefits - Definition

and Scope of Applicability.


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Down Arrow Fringe Benefit Definition

The Finance Bill 2005 - Section 115WB (1) defines Fringe Benefits as follows :

Gray Arrow (a) Any privilege, service, facility or amenity, directly or indirectly, provided by an employer to his employees (including former employee or employees) by reason of their employment; or

Gray Arrow (b) Any reimbursement, directly or indirectly, made by the employer to his employees for any purpose;

Gray Arrow (c) Any free or concessional ticket provided by the employer for private journeys of the employees and their family members; and

Gray Arrow (d) Any contribution by the employer to an approved superannuation fund.

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Gray Arrow Note : The privilege, service, facility or amenity does not include perquisites in respect of which tax is paid or payable by the employee or any benefit or amenity in the nature of free or subsidised transport or any such allowance provided by the employer to its employees for journeys by the employees from

Gray Arrow Their residence to the place of work or

Gray Arrow Such place of work to the place of residence.

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Down Arrow Scope of Applicability of Fringe Benefit Tax (FBT)

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Down Arrow Who is liable to pay FBT ?

Gray Arrow The liability to pay Fringe Benefit Tax arises whenever there is an employer-employee relationship.

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Gray Arrow Who is an employer ?

Under FBT, an employer could be any of the following

Gray Arrow A company, a firm, an association of persons or a body of individuals, a local authority and every artificial judicial person.

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Down Arrow Who is NOT liable to pay FBT ?

Gray Arrow Individuals, Sole Proprietorship Concerns and HUFs (Hindu Undivided Families) are exempt from Fringe Benefit Tax.

Gray Arrow Trusts or Institutions continuing to remain eligible for exemption under Section 10(23C) or remaining registered under Section 12AA of the Income Tax Act need not pay Fringe Benefit Tax.

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Updated on 22nd March 2006.
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