This document provides an overview of fringe benefit tax (FBT) and tax deduction at source (TDS) in India. It introduces FBT and its key features, such as being payable by employers on benefits provided to employees beyond salary. It also classifies FBT into direct and deemed fringe benefits. The document then discusses TDS, how it is a mode of collecting income tax by deducting it from payments, and the obligations of those responsible for deducting and remitting TDS.

1. • TOPIC-FBT & TDS {OVERALL
VIEW}
GROUP
MEMBERS
SHIVANGI JHA(44)
RAUNAK RAJ(39)
VISHWAJEET (58)
SOURAV
KUMAR(46)
KRITIKA KARN(19)

2. • Fringe benefit tax (introduction)
• F.B.T (meaning)
• Features of F.B.T.
• Classification of F.B.T.
• Tax deduction at source
• Features of T.D.S.
• OBLIGATION UNDER T.D.S
COLLECTION

3. FBT was introduced as a part of
finance act, 2005 as an additional
income tax and came into force
from April 1, 2005.

4. The term fringe benefit means ‘any
consideration for employment provided
by way of any privilege , service ,
facility or amenity provided by the
employer to the employees.

5. • FBT is payable by an employer in respect of
benefits provided or to be provided by the
emplyer to his employee in addition to the salary
or wages paid during the year.
• It is surrogate tax on employer.
• It is a tax on expenditure not income.
• An employer has to pay FBT even if no income
tax is payable on the total income.
• FBT is payable at the specified rate on the value
of fringe benefit provided to the employees.

6. • DIRECT FRINGE BENEFIT
• DEEMED FRINGE BENEFIT

7. • As money value is associated with time
therefore the exact value of benefit cannot be
calculated in advance.
• It is additional tax to the employers as
corporation tax, excise duty, custom duty etc.
are the liable taxes for employees.
• An increase in FBT rate will increase the tax
liablity of an employer and In return it will
adversely impact the final price of companies
products.

8. TDS is one of the modes of collecting
income tax. The buyer deducts the tax
from the payment made to the seller
and remits the tax to the income tax
department within the stipulated time.

9. • Responsiblity for deduction or collection of
tax at source is fixed on specified person
or agent.
• Every specified person is responsible for
deduction of tax at source is required to
obtain tan.
• Certificate of TDS have to be issued to the
tax payer within specified time.
• Condition for non deduction of tax are
specified.

10. • Obtain TAN.
• Identify the nature of payments.
• Deduct tax at prescribed rate.
• Remit in government account in due time.
• File TDS statement on due date.
• Issue TDS certificate in time.