https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Fringe_benefits_tax_%28India%29Fringe benefits tax (India) - Revision history2026-11-09T05:06:36ZRevision history for this page on the wikiMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Fringe_benefits_tax_(India)&diff=168981&oldid=previmported>DannyS712: Removing extra spaces between <ref> tags2020-08-15T06:16:42Z<p>Removing extra spaces between <ref> tags</p>
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The '''fringe benefits tax''' ('''FBT''') was the tax applied to most, although not all, [[fringe benefits]] in India. A new tax was imposed on employers by India's Finance Act 2005 from the financial year commencing April 1, 2005.<ref name="What is fringe benefit tax?">{{cite news | url=http://www.rediff.com/money/2005/mar/22spec.htm | title=What is fringe benefit tax? | date=March 22, 2005 | accessdate=April 13, 2012}}</ref> The fringe benefit tax was temporarily suspended in the [[2009 Union budget of India]] by the then Finance Minister [[Pranab Mukherjee]].<ref name="FBT abolished: Bad news for employees">{{cite news | url=http://www.moneycontrol.com/news/budget-news/fbt-abolished-bad-news-for-employees_404726.html | title=FBT abolished: Bad news for employees | date=July 6, 2009 | accessdate=April 13, 2012}}</ref><ref name="Link: FBT abolished: Bad news for employees">{{cite news | url=http://www.moneycontrol.com/india/newsarticle/news_print.php?autono=404726&sr_no=0 | title=(Updated Link) FBT abolished: Bad news for employees | accessdate=December 27, 2017}}</ref><br />
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The following items were covered:<br />
*Employer's expenses on entertainment, travel, employee welfare and accommodation. The definition of fringe benefits that have become taxable has been significantly extended. The law provides an exact list of taxable items.<br />
*Employer's provision of employee transportation to work or a cash [[allowance (money)|allowance]]s for this purpose.<br />
*Employer's contributions to an approved [[retirement plan]] (called a [[superannuation fund]]).<br />
*Employee stock option plans (ESOPs) have also been brought under fringe benefits tax from the fiscal year 2007–08.<br />
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==References==<br />
{{Reflist}}<br />
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[[Category:Taxation in India]]<br />
[[Category:Employee benefits]]</div>imported>DannyS712