No. The provisions of s. 115WB (3) provides that the fringe benefit tax shall not be payable in respect of the amounts of perquisites on which the tax is paid or payable by the employee.
However, as a consequence of the introduction of Fringe benefit tax, the changes have been made in the provisions relating to perquisites
Benefit |
Taxable value in hands of the employee |
Value of rent free, company leased accommodation |
20% of salary (earlier 10%) |
Car provided by employer |
Omitted |
Free or concessional journey |
Omitted |
Holiday tour, travel, accommodation etc. |
Omitted |
Free meals during office hours. |
Omitted |
Gifts |
Omitted |
Credit card fees |
Omitted |
Expenditure on clubs |
Omitted |
Telephone, Mobile phones |
Omitted |
|
