[Madan Mohan Gupta]

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

[RickJ]

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

[AtlantaTaxExpert]

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

[sachinkundaliya]

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..

[sachinkundaliya]

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.