The present article is confusing, FBT is paid by the company not individual, individual cannot be taxed, till any perqs. become the part of income, FM has not changed any such issue in Finance Bill 2009, on the basis of apprehensions, conclusion cannot be drawn.
Re: FBT
by bhagat singh on Aug 11, 2009 10:44 AM
FBT is to paid by company, but companies used to recover FBT from employees for the benefits what employees used to enjoy for personal benifits.
Re: Re: FBT
by arungopal agarwal on Aug 11, 2009 10:49 AM
How they recover except may be for coupons etc, given which forms the part of package in private sector.But FBT is put up even on official tours and so many other items too
Re: Re: Re: FBT
by bhagat singh on Aug 11, 2009 11:45 AM
many companies has stopped not only giving gift coupons but also safety gears. Safety gears were distributed on chargeable basis. Before, allocating ESOPs employees were charged with 33% FBT.
Regarding official tours, FBT has to be charged from employer as employee is representing his/her company or in other words he/she is on duty.Thanx god, companies are not so unethical to charge 20%-30%(as applicable)FBT from its employee for official tours.
Dear Finance Minister, please start taxing upper salaried people as per fringe benefit they are taking.
car petrol / diesel; servant / driver cost, free foreign trip for family, food coupons, free or subsidised house, etc should become PART of SALARY and taxed accordingly.
Re: Fringe Benefit Tax
by Atul Neogi on Aug 11, 2009 10:45 AM
yes squeeze salaried class and give zero percent capital gains tax and allow investments via tax havens like mauritius. After all, salaried people are there for financing loan waivers and election freebies...
This is good decision. The Indian Fat Cats who are enjoying huge perks without paying any tax (paid by comnpany where small salaried people also work) should start paying now.
The petrol expense on company cars, free or subsidized housing, free furnitute etc should become part of the person's salary and taxed at his tax rate.
Till date companies were paying. Now its time for these people to start paying.
FM, please tax these people immediately, without any hesitation.
Re: FBT
by Atul Neogi on Aug 11, 2009 10:37 AM
Cats became Fat cats due to their brains. You tax them 200 percent and still you loser will be below them
Re: FBT
by Sunil Sahasrabudhe on Aug 11, 2009 10:16 AM
Pravin your comments are partly acceptable to all but once you start enjoying huge perks, you will feel the pinch. All the best
Re: Rediff is losing its face ....
by Atul Neogi on Aug 11, 2009 10:51 AM
why only national character, rediff boards are international in character with representatives from Pak, B'desh, SL, China and other loser states spewing venom on anything indian.
Why have the tax slab consistent beyond 10 lacs as same. Lets take a e.g take any bollywood star say a Sharukh Khan or a Akshay kumar charges 20~ 40 crores for each movie if they do 5 movies a year means what 150 crores now take 30 % of the same which 45 crores now hat govt of India has done removed 10% surcharge that is 4.5 crores do you think it is a conscious decision with 4.5 crores you can make a flyover in Mumbai. You cannot equate this same surcharge with a 10 lac earner. All said and done we need to remember that the bollywood guys are entertainers and this is more then live life kingsize. So bottom line go on increasing the slabs beyond 10 lacs then 15 lacs then 20 lacs. Also at the same time the govt should also look into saving peoples tax money does a Shivraj Singh Ex homeminister require 200 policeman to guard him? or have 2 policemen.
I think there is not much confusion on FBT & tax on Perquisits. FBT was chargeable on items whch were not employee-specific like use of gym, concessional air tickets, hotel and other travelling cost etc. But tax on perquisits are normally related to those items which are employee-specific like car, rent-free furnished accomodation etc. Many companies hide these expenses earlier by charging them directly to business expenses even before FBT came up and they'll do so even now. Employees will be taxed only for those perquisits which are precisely mentioned in their terms of employment. And this situation was prevaied even at the time of FBT-regime . What's the confusion ?
Indian politicians and their guvments. are all bunch of incompetent and corrupt people. All they know is self-service and vote-bank politics. People of the nation are bound to suffer in the hands of such silly people who are running the nation. Dont expect anything good from such politicians and corrupt guvment. service people.
