Meaning of frienge benefit tax
What is fringe benefit tax?The imposition of fringe benefit tax that proposes to tax companies on perquisites provided to their employees by Finance Minister P Chidambaram in his recent Budget has sparked off a huge debate amongst corporate and tax circles.
Fears have been aired that many an industry will be badly hit by the fringe benefit tax and act as a barrier to their growth and well being.
So just what is fringe benefit tax?
The taxation of perquisites -- or fringe benefits -- provided by an employer to his employees, in addition to the cash salary or wages paid, is fringe benefit tax. ...more