Federation of India Chambers of Commerce and Industry on Friday warned that the new taxes on the corporate sector like Fringe Benefit Tax would severely hit the tottering savings and investments.
Booming economic activity enabled the government to collect Rs 99,935 crore (Rs 999.35 billion) from direct taxes during April-November this year
The credit card is a perquisite for which you don't pay tax. Which are the other ones? Find out. . .
Admitting that Fringe Benefit Tax is 'fast becoming a trauma', the government on Friday said it was confident of meeting the budget target of 34 per cent growth for direct taxes at Rs 1,75,000 crore
The government would not withdraw fringe benefit tax, which was introduced in the 2005-06 Budget, but the process would be made less painful, Central Board of Direct Taxes chairman M S Darda said on Friday.
If the valuation norms are not announced by then, the due date for paying advance fringe benefit tax (FBT) on ESOPs is likely to be extended beyond September 15.
The expenditure incurred by employers on get-together of employees and their families on Diwali, Id, Christmas or even New Year will attract fringe benefit tax, while such outlay on the Independence Day and the Republic Day have been spared.
Union Commerce and Industries Minister Kamal Nath on Friday said he disagreed with the finance ministry on the controversial fringe benefit tax, saying the tax laws should be made simpler.
The moves will reduce the administrative burden of the department, banks and taxpayers.
Income tax payers can now file their tax returns more easily, says tax expert Subhash Lakhotia.
The corporate sector on Thursday was unanimous in asking the government to go back to the drawing board regarding the fringe benefit tax on the grounds that the present tax, if enforced, would increase bureaucratic interference, paper work, rent seek
In order to give Corporate India the much-needed boost in its quest for growth and competitiveness, Federation of Indian Chambers of Commerce and Industry on Thursday presented the finance minister a 14-point fiscal correction agenda.
Finance Minister P Chidambaram may hike limit on withdrawal of cash for tax; correct Fringe Benefit Tax anomaly.
Employers giving perks other than conveyance and canteen allowances will now have to pay a Fringe Benefit Tax at the rate of 30 per cent.
Facing an annual loss of a whopping Rs 300 crore (Rs 3 billion), shipowners have pleaded with the finance ministry to keep them out of service tax net and exempt them from withholding and fringe benefit taxes.
Confederation of Indian Industry has demanded the removal of Fringe Benefit Tax and various other direct tax reforms
The issue of his wife appearing as counsel for the revenue department has caused P Chidambaram a lot of embarrassment. Tell us if he should quit.
Donations to NGOs and charitable institutes are likely to be exempted from fringe benefit tax, a leading member of chartered accountants body ICAI said on Saturday.\n
As much as Rs 583 crore (Rs 5.83 billion) was collected from the Fringe Benefit Tax and Rs 20 crore (Rs 200 million) from Banking Cash Transaction Tax during the first quarter of this fiscal, the Lok Sabha was informed on Tuesday.
The government on Monday extended the date for payment of first instalment of the advance Fringe Benefit Tax by a month to August 15.\n\n
Fringe Benefit Tax should be accounted as a separate item under tax expense, according to the Institute of Chartered Accountants of India.
The finance ministry is likely to tone down some of the provisions of Fringe Benefit Tax and moderate the conditionalities for Banking Cash Transaction Tax proposed in the Budget.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances