Non-Taxable Components of Salary & Fringe Benefit Tax for Employer

Would like to know what are the Non-Taxable Components of Salary that an employer can provide their employees. Also, is there any fringe benefit tax that employer will have to pay. What proofs are to be submitted by the employee to claim exemption on this and when do they have to submit the documents - monthly/quarterly/annually ?

asked Apr 11 '12 at 12:50 by Ashlesha Dere 1122

There is already a question which covers this point: Tax exemption component for salaried employee

FBT (Fringe benefit tax) has been abolished and now fringe benefits are taxable in hands of employees on their perquisite values.

Employee need to submit original bills for telephone, internet, petrol, driver salary expenses in order to make them non taxable.

answered Apr 11 '12 at 17:22 by Pankaj Batra 5.2k320

Thank You Sir. Do the employees have to submit the originals bills for telephone, internet, etc on monthly basis ?
(Apr 11 '12 at 18:01) Ashlesha Dere
It depends on employer's policy. They may collect bills on monthly/quarterly/yearly basis. But yes, original bills needs to be submitted. In case of electronic bills (phone/internet), a printout may be accepted.
(Apr 11 '12 at 18:59) Pankaj Batra

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Asked: Apr 11 '12 at 12:50

Seen: 3,209 times

Last updated: Apr 11 '12 at 18:59