India Inc has devised a plan to deal with the contentious Fringe Benefit Tax. Industry players are going to tell Finance Minister P Chidambaram to make this tax voluntary – as opposed to compulsory – for tax-paying companies.Instead of the FBT, the tax-paying companies were ready to pay 1 per cent more than their total tax liability, industry sources said.Sources said the Confederation of Indian Industry had ascertained the views of its members and the national council had endorsed the proposal.
This suggestion is likely to be a part of the pre-Budget memorandum industry players will submit to the finance minister.
Madhur Khandelia
Popularity: 1% [?]
No Comment
Random Post
Leave Your Comments Below