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India - Fringe Benefit Tax (FBT) Details

& FBT Support Services

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Down Arrow FBT Calculators

Down Arrow Calculate Fringe Benefit Tax (FBT) Online using our free Calculators for different types of expenses.

Gray Arrow FBT on 100 % of Expenses - Calculator.

Gray Arrow FBT on 50 % of Expenses - Calculator

Gray Arrow FBT on 20 % of Expenses - Calculator

Gray Arrow Expenses where FBT on 5 % (applicable for certain businesses and for Assessment Year 2007 - 08 onwards only).

Down Arrow Download FBT Payment Challan

Gray Arrow Challan No ITNS 283 (Adobe PDF File - 80 KB Size ) to be used for Payment of FBT and Banking Cash Transaction Tax.

Gray Arrow Important Dates for FBT Payment. These are now synchronised with the payment of Advance Tax.

Gray Arrow Definition of Fringe Benefit introduced From Financial Year April 2005 - March 2006 (Income Tax Assessment Year 2006 - 2007) onwards.

Gray Arrow List of Expenses covered.

Gray Arrow FBT Relaxations and Exemptions.

Down Arrow FBT Workings / Changes

Down Arrow FBT Abolished

Down Arrow FBT abolished from Financial Year April 2009 - March 2010 ( Income Tax Assessment Year 2010 - 2011 onwards. (Posted On 8th January 2010).

Down Arrow Changes in FBT announced in the Union Budget 2008 on 29th February 2008 for Financial Year April 2008 - March 2009 & Income Tax Assessment Year 2009 - 2010 onwards. (Posted On 1st March 2008).

Gray Arrow Expenditure on or Payment through pre-paid electronic meal card shall also be excluded from the hospitality expenditure for the calculation of the value of fringe Benefit. Such electronic meal card should not be transferable, should be usable only at eating joints or outlets and should fulfill other such conditions, as may be prescribed.

Down Arrow Expenditure incurred or Payment made to Provide creche facility for employee's children, sponsor a sportsman who is an employee, organize sports events for employees shall not be considered as expenditure for employees' welfare for the purpose of calculation of the value of fringe benefits.

Gray Arrow Expenditure on or Payment made for maintenance of any accomodation in the nature of guest house shall not be included for valuation of fringe benefits.

Gray Arrow The value of fringe benefits on account of expenditure on festival celebration has been reduced from the existing rate of 50 % to 20 %.

Down Arrow Changes in FBT announced in the Union Budget 2007 on 28th February 2007 for Financial Year April 2007 - March 2008 & Income Tax Assessment Year 2008 - 2009 onwards.

Gray Arrow Expenditure on Free Samples and Expenditure on Displays to be excluded from FBT.

Gray Arrow Employee Stock Option Plan (ESOP) offered by companies to employees to be covered under FBT. The value of the Fringe Benefit to be determined on the date of the exercise of the option in accordance with a prescribed method. (Posted On 1st March 2007).

Gray Arrow Changes announced in the Union Budget 2006 on 28th February 2006 for Financial Year April 2006 - March 2007 and Income Tax Assessment Year 2007 - 2008 onwards. (Posted On 28th February 2006).

Down Arrow FBT Support Services for ERP Software Integration (like SAP) (Posted On 13th December 2008).

Kaytek can help provide Support Services for Integration of ERP Software Packages (like SAP) with FBT Calculations.

Accounting Modules of some ERP software packages still do not support FBT calculation easily.

Many organizations have the FBT data being exported or dumped from the ERP software using Excel workbooks.

There are worksheets that have individual accounting transaction level details such as Accounting Code, Document Number, Document Date, Transaction Details, Document Reference, Profit Center, Cost Center, Posting Date, Posting Amount, Transaction Fringe Benefit Value & Calculated FBT.

These input worksheets contain the ERP (like SAP) generated accounting source data on which the FBT will have to be calculated based on the account codes and other additional information supplied by the organization as relevant.

They also have a summary worksheet in which the Calculated FBT Data Totals (Fringe Benefit Values & FBT Tax) are shown along each accounting code.

These Account Codes along with the Account Name & Description are displayed in a hierarchial fashion as per the organization's relevant Chart Of Expense Accounts.

This would be the Output based on the mapping of the Account Codes to the relevant Employee Related Expenses on which the FBT workings would be done.

The exact nature of the support services will depend on the ERP software package being used and the accounting practices and FBT related account codes that have been set up. To determine the scope of services and charges, some important queries are the following :

Gray Arrow Average Number of Accounting Transactions per Period (Day / Week / Month / Quarter) on which FBT would be attracted.

Gray Arrow Additional Organization Details like Profit center, Cost center that may be required for apportionment of FBT.

Down Arrow Interact with us - Weblogs

Gray Arrow " FBT is a trauma "...! (23rd December 2005). Square Separator A pain !! (12th October 2005). Square Separator Or A pleasure ? (17th October 2005).

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Updated on 1st April 2013.
Created on 2nd March 2005.

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