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I find Fringe Benefit Tax very confusing. Can you explain it?
- Srinivas Dasyam
FBT or Fringe Benefit Tax is the tax applicable on the value of fringe benefits provided by employers to employees.
Due to the recent tax provisions, the burden of paying this tax has been imposed on the employer -- not you, the employee.
However, companies look at the cost-to-company when they consider the total pay packet and benefits to employees. So, the tax impact may in reality be passed on to the employee in terms of fewer benefits being offered to avoid paying the tax.
I have officially changed my surname. I have made an affidavit as well as advertised in the newspapers. I have even changed my PAN number and received a new card with the old PAN number but new surname.
But, in the various banks and company records, my surname was not changed.
Now, they give me all the certificates with old surname (FORM 16, TDS, Interest Certificates).
Must I file my IT returns with the new surname even though all the certificates are with the old name?
- Rakesh Monga
Yes, you can file your IT return with the new surname since you have a PAN card to that effect.
Submit all the old certificates.
Just make sure you attach a copy of affidavit stating your name change along with your return.
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