I Want to Know What is Freenze Benefit Tax. When and What rate it is payable in case of Company or Firm.

I think you are referring to Fringe Benefit.

Here is some info for you until our Tax Expert comes along:
"fringe benefit tax" - Google Search

Google returns no results for a Freenze Benefit Tax

I suspect that it may be a state tax, as I have never heard of it on the federal level.

It means tax on those facilities or allowances which neither taxable for employee nor the employer under some rule. In order to overcome this , it is introduced.

It is applicable to only company and firm. It apply to certains expenses done by the employer such as car,telephone or mobile, air tickets to employee, repair & maintenance etc and apply in different rates for different kinds of expenses which ranging from 20% to 100% depending upon the nature of expenses.

After applying rates as above we get the value of FBT and on which 33.66% tax is calculated which is same for both company and firm..

It means tax on those facilities or allowances which neither taxable for employee nor the employer under some rule. In order to overcome this , it is introduced.

It is applicable to only company and firm. It apply to certains expenses done by the employer such as car,telephone or mobile, air tickets to employee, repair & maintenance etc and apply in different rates for different kinds of expenses which ranging from 20% to 100% depending upon the nature of expenses.

After applying rates as above we get the value of FBT and on which 33.66% tax is calculated which is same for both company and firm.