Fringe Benefit Tax

Tax Glossary Definition

Fringe Benefit Tax

Fringe Benefit Tax (FBT) was a levy imposed on employers for offering non-cash benefits or perks to their employees. The tax was discontinued starting from the financial year 2009–10, and such benefits are now taxed directly as perquisites in the hands of employees.

Example: The value of a company-provided car, earlier subject to FBT, is now included as a taxable perquisite under salary income.

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