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What are Fringe Benefit ?
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What are Fringe Benefit ?

What are Fringe Benefit ?

Fringe Benefit:-A benefit in addition to salary offered to employees such as use of company’s car, house, lunch coupons, heath care subscriptions etc.or an extra benefits supplement an employee’s money wages or salary example company car,private healthcare etc.

Another Definition of Fringe Benefits- A collection of certain benefits that are exempted from tax as long as certain conditions are met. The financial Act 2005 introduces a new type of Tax structure under the title Fringe benefits tax by including a new chapter XII-H in the income tax act 1951 in section 115W to 115WL which provide for levy of addtional income Tax

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