The Institute of Chartered Accountants of India will issue guidelines for computing fringe benefit tax, announced in this year's general budget.

"The Institute of Chartered Accountants of India will lay down guidelines and chartered accountants are expected to follow those guidelines," Finance Minister P Chidambaram said on the sidelines of the annual conference of Chief Commissioners and Directors General of Income Tax.

He, however, declined to attach any timeframe for ICAI, the apex chartered accountants body, to come out with the guidelines.

FBT is based on certification by chartered accountants who are expected to follow these guidelines, he said, adding that FBT is now part of income tax return and a schedule has been added to the return.

To a query whether FBT will be extended to the government sector, Chidambaram said: "Government cannot tax itself."

When asked whether collections from FBT will touch Rs 9,000 crore (Rs 90 billion) as is estimated by certain experts, he said, "My guess is as good as yours."

To another query, Chidambaram said he had information that FBT has become attractive for businesses.