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FBT

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TDS is deductible on ESOP

Income Tax : Employee Stock Options Plans (ESOPs) and its different variants like Employees Stock Purchase Plans, Stock Appreciation Rights, St...

August 31, 2018 28512 Views 0 comment Print

FBT First Instalment of June Quarter Paid-Refund or Adjustment?

Income Tax : The Finance Bill (No.2), 2009 could be presented on Sixth of July, 2009 due to formation of new government but by that time many c...

January 25, 2010 1072 Views 0 comment Print

New perquisite valuation rules to hit employees with company cars

Income Tax : New perk rules :- Under the new perquisite rules, a distinction is to be made between the car owned by the employer and the car ow...

January 17, 2010 8773 Views 0 comment Print

Taxability of ESOP for Assessment year 2010-2011

Income Tax : Employee stock options (ESOPs) is a significant employer-granted benefit that too is subject to the above FBT /perquisite-based ta...

December 26, 2009 14345 Views 0 comment Print

Salary Income -Valuation of Perquisites

Income Tax : Valuation of Perquisites under Rule 3 of Income Tax Rule 1962 read with sub section 2 of section 17 of Income Tax Act, 1961 (As Re...

December 24, 2009 31113 Views 0 comment Print


Latest News


17.85 Percent Increase in Direct Tax Collections During April-November Crosses 50 percent of be Target of Rs.4,30,000

Income Tax : During the period April-November 2010, net direct tax collections stood at Rs.2,16,628 crore, up from Rs.1,83,822 crore during the...

December 8, 2010 321 Views 0 comment Print

Net Direct Tax Collections Register 19.09 Percent Growth

Income Tax : Net direct tax collections during the period April-September 2010 stood at Rs.1,81,758 crore, up from Rs.1,52,625 crore in the sam...

October 20, 2010 288 Views 0 comment Print

Direct tax Collections Register 15.75% Growth During first four months of present Fiscal

Income Tax : Net direct tax collections during first four months of the present fiscal (up to July 2010) stood at Rs.85,647 crore, up from Rs.7...

August 6, 2010 750 Views 0 comment Print

Direct tax collections register 7.5 per cent growth upto February

Income Tax : Net direct tax collections during first eleven months of the present fiscal (up to February 2010) stood at Rs.2,78,373 crore, up f...

March 5, 2010 357 Views 0 comment Print

Perquisite Valuation rules not considered the inflation and old exempt amount limit been kept

Income Tax : The fringe benefit tax (FBT) was strongly opposed by India Inc, but there is no doubt that it was beneficial to the employees — ...

December 30, 2009 735 Views 0 comment Print


Latest Judiciary


ITAT Orders Deletion of FBT Addition Due to Lack of Employer-Employee Relationship

Income Tax : In the case of Piramal Enterprises Ltd vs DCIT, ITAT Mumbai directed deletion of Fringe Benefit Tax (FBT) addition on business pro...

May 5, 2024 174 Views 0 comment Print

No FBT on Travelling & Conveyance where public transport connectivity was absent 

Income Tax : Dive into Prakash Industries Ltd vs ACIT case dissected by ITAT Delhi, detailing FBT exemptions for transport services and medical...

March 18, 2024 354 Views 0 comment Print

FBT not payable on Employee Welfare Expenses

Income Tax : Bilfinger Neo Structo Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) As regards ground relating to Employees Welfare Expenses includible in va...

August 25, 2022 1035 Views 0 comment Print

Delhi HC directs Income Tax Dept to decide on Refund claimed by American Express

Income Tax : Delhi High Court directs rectification of Amex India's tax assessment, orders refund of Rs. 45.60 crore. Get insights into the ru...

April 10, 2022 702 Views 0 comment Print

FBT payable on Free/concessional electricity provided to employees

Income Tax : Singareni Colleries Company Ltd Vs ACIT (ITAT Hyderabad) AR of the assessee submitted that the amount of electricity provided to t...

April 23, 2021 708 Views 0 comment Print


Latest Notifications


CBDT Press Release on Tax collections during first quarter

Income Tax : Net direct tax collections during first quarters of the present fiscal (up to June 2010) stood at Rs.68,675 crore, up from Rs.59,4...

July 8, 2010 411 Views 0 comment Print

Circular on adjustment of Advance FBT Paid for Assessment Year 2010-11

Income Tax : Circular No. 2/2010-Income Tax The Finance Act, 2005 introduced a levy namely Fringe Benefit Tax (FBT) on the value of certain fr...

January 29, 2010 8105 Views 0 comment Print

Government Put Conditions on Issue of Prepaid Meal Card

Income Tax : Notification No. 1/2009 - Income Tax The Finance Act, 2008, w.e.f. from 1 April 2008, introduced a new concept of Electronic Meal...

January 5, 2009 19683 Views 0 comment Print

FBT on ESOPs – CBDT amends Rule 40C

Income Tax : NOTIFICATION NO 11/2008, Dated: January 18, 2008 Valuation of specified security not being an equity share in the company. 40D. Fo...

January 23, 2008 1009 Views 0 comment Print

Notification on Valuation of ESOP for FBT

Income Tax : NOTIFICATION NO. 264/2007, DATED 23-10-2007 Valuation of specified security or sweat equity share being a share in the company. 40...

October 24, 2007 708 Views 0 comment Print


Latest Posts in FBT

ITAT Orders Deletion of FBT Addition Due to Lack of Employer-Employee Relationship

May 5, 2024 174 Views 0 comment Print

In the case of Piramal Enterprises Ltd vs DCIT, ITAT Mumbai directed deletion of Fringe Benefit Tax (FBT) addition on business promotion expenses due to absence of an employer-employee relationship.

No FBT on Travelling & Conveyance where public transport connectivity was absent 

March 18, 2024 354 Views 0 comment Print

Dive into Prakash Industries Ltd vs ACIT case dissected by ITAT Delhi, detailing FBT exemptions for transport services and medical expenses reimbursement, with expert insights.

FBT not payable on Employee Welfare Expenses

August 25, 2022 1035 Views 0 comment Print

Bilfinger Neo Structo Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) As regards ground relating to Employees Welfare Expenses includible in value of Fringe Benefit Tax, the Ld. AR submitted that the details were properly filed before the Assessing Officer which were never taken into account by the CIT(A) as well as Assessing Officer. Ld. AR further […]

Delhi HC directs Income Tax Dept to decide on Refund claimed by American Express

April 10, 2022 702 Views 0 comment Print

Delhi High Court directs rectification of Amex India’s tax assessment, orders refund of Rs. 45.60 crore. Get insights into the ruling.

FBT payable on Free/concessional electricity provided to employees

April 23, 2021 708 Views 0 comment Print

Singareni Colleries Company Ltd Vs ACIT (ITAT Hyderabad) AR of the assessee submitted that the amount of electricity provided to the employees is not a Fringe Benefit as this is a contractual obligation to the employees working in coal mines which is as per the National Coal Workers Agreement ( NCWA) and this benefit is […]

FBT on providing Free Medicine Samples to Doctors by Pharma Companies

March 3, 2020 735 Views 0 comment Print

Since there was no employer-employee relationship between the assessee on one hand and the doctors on the other hand to whom the free samples were provided, the expenditure incurred for the same cannot be construed as fringe benefits to be brought within the additional tax net by levy of fringe benefit tax.

Uniform Allowance to staff not Taxable under Fringe Benefits

June 21, 2019 7464 Views 0 comment Print

Mumtaz Hotels Limited Vs DCIT (ITAT Kolkata) CIT(A) opined that the said clothes were not protective ones and they are not uniforms and not compulsory uniform under the statute. We find that the employees’ uniforms have traditionally been used as a functional necessity. It is noted from the record that the assessee assumed the financial […]

TDS is deductible on ESOP

August 31, 2018 28512 Views 0 comment Print

Employee Stock Options Plans (ESOPs) and its different variants like Employees Stock Purchase Plans, Stock Appreciation Rights, Stock Awards, etc, have been used by employers to attract, retain and motivate employees. ESOPs have been popular primarily in the knowledge-based industries like information technology, biotechnology, etc. However, in the recent past, they have gained prominence even in traditional industries like manufacturing.

Exercise of revisional jurisdiction u/s 263 for adjustment of FBT in book profit

April 23, 2018 618 Views 0 comment Print

Rashtriya Chemicals & Fertilizers Limited Vs. CIT (ITAT Mumbai) Taxes borne by the assessee on non-monetary perquisites provided to employees forms part of Employee Benefit cost and akin to Fringe Benefit Tax since they are certainly not below the line items since the same are expressively disallowed u/s 40(a)(v) and the same do not constitute […]

Food to employees in office or factory does not form part of fringe benefit

December 1, 2017 3396 Views 0 comment Print

It is clear from the provision of section 115WB(2)(B)(i) of the Act that expenditure on food provided by the employer to the employees in an office or factory does not form part of the fringe benefit.

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