2006-08-01 01:47:47 · 5 answers · asked by Chander K 1 in Business & Finance ➔ Taxes ➔ India
Yes it is and FBT return shall be filed in form 3B (if you have already deposited regular return).
Deepak Bholusaria
Chartered Accountant
2006-08-01 04:58:59 · answer #1 · answered by DeepakB 3 · 0⤊ 0⤋
Yes, of course, FBT is applicable to the previous year 2006-07.
2006-08-02 05:12:50 · answer #2 · answered by Achudha 2 · 0⤊ 0⤋
Definitely FBT is a good revenue churner for the Indian Govt.
And it is here to stay just like income tax and will continue year on year basis.
FBT is a way Indian Govts. Revenue is taxing the escaping expenditure which was enjoyed by the employees and no one pays for it. And the same is allowed as expenditure by the govt/ income tax dept.
2006-08-01 22:03:52 · answer #3 · answered by apurav a 3 · 0⤊ 0⤋
FBT is applicable from 2006-07 hence it is .if u r employer expended for ur employee's welfare that was not taxable in the hands of employees then you should file return for FBT.
2006-08-01 07:25:26 · answer #4 · answered by bharehardeep 2 · 0⤊ 0⤋
yes ( for the employer)
2006-08-02 02:48:03 · answer #5 · answered by coolbuddy 2 · 0⤊ 0⤋