https://www.taxtmi.com/article/detailed?id=128 Amendments in the Finance Act, 2008 change FBT scope and valuation: broaden securities under employee share schemes to include securities offered under plans, exempt certain non-transferable prepaid electronic meal cards subject to conditions, exclude cre che facilities, employee sports sponsorship and employee sports events from employees' welfare, and remove guest-house maintenance from taxable fringe; consequential valuation-rule changes permit lower valuation benchmarks. The author argues these changes are declaratory/curative and thus capable of retrospective application to FBT's inception, advising revised returns or payment under protest where appropriate. en-us Sun, 03 Aug 2008 00:00:00 +0530 Fri, 13 Mar 2009 12:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=128 Amendments in the Finance Act, 2008 change FBT scope and valuation: broaden securities under employee share schemes to include securities offered under plans, exempt certain non-transferable prepaid electronic meal cards subject to conditions, exclude cre che facilities, employee sports sponsorship and employee sports events from employees' welfare, and remove guest-house maintenance from taxable fringe; consequential valuation-rule changes permit lower valuation benchmarks. The author argues these changes are declaratory/curative and thus capable of retrospective application to FBT's inception, advising revised returns or payment under protest where appropriate. Articles Income Tax Sun, 03 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=128