Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Unlock Exclusive Savings with Tally Renewal Discounts: All You Need to Know
 MEF 2024-25 Now Open: Submit Your Multipurpose Empanelment Form at MEFICAI.org Before October 7
 Best Tax Saving Investments for Senior Citizens in 2024

FBT payment on ESOPs extended to Sept 15
June, 15th 2007
The Finance Ministry on Thursday said that the first instalment of the advance tax relating to fringe benefit tax (FBT) on employee stock option programmes or sweat equity could be paid by September 15, against the earlier specified due date of June 15.

With the method for determination of fair market value yet to be notified, the Finance Ministry has conceded that it would not be possible for an employer to determine the value of the first instalment of advance tax in regard to ESOPs or sweat equity issued to its employees.

Budget 2007-08 had brought ESOPs and sweat equity issued to employees under the FBT net. The FBT liability on ESOPs has to be cleared by the employer as advance tax in four instalments.

The value of the fringe benefit is determined as the fair market value of the specified security or sweat equity share on the date on which the option vests with the employee as reduced by the amount actually paid by or recovered from the employee in respect of such security or shares.

The fair market value has to be determined in accordance with the method prescribed by the central board of direct taxes.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting