Fringe benefit tax on employer provided benefits with valuation, filing, advance payment and assessment rules. Insertion of Chapter XII-H imposes a statutory Fringe Benefit Tax on employers in addition to income-tax, defining employers and fringe benefits, excluding perquisites taxed to employees. It charges tax on the value of benefits provided or deemed provided, prescribes categories of deemed fringe benefits, sets valuation methods including sector-specific adjustments, and requires timely filing of returns, advance quarterly payments, and provides for assessment, reassessment, best judgment assessment, notice requirements and interest for defaults.