FRINGE BENEFIT TAX
- Expenditure on free samples and on displays to be excluded from the scope of Fringe Benefit Tax (FBT)
- Employee’s Stock Option Plan (ESOP) brought under FBT.
- Payment of Advance Tax on Fringe Benefits and due dates for the same have been aligned with the provisions of advance tax on income as specified u/s 211 of the Act. This implies that now assessee will have to compute/estimate fringe benefit value on yearly basis and pay the advance tax thereon as specified u/s 115WJ of the Act.