Hi Devansh,
Hope am not late on commenting on this ppt as this was posted in Jan'07. :).
This has come into focus on account of FBT - fringe benefit tax introduced by Hon Finance Minister P Chidambaram.
This was done as many companies were paying to employees tax free compensation and Finance Minister intented to bring them under taxation purview!..
Type of Fringe benefits:-
*Contributions paid by your employer into an approved occupational or personal pension scheme for the employee. Nearly all schemes are included cheap or free canteen meals, if these are provided for all employees, even if separate facilities are provided for different groups of employees in-house sports facilities.
*Counselling services to redundant employees
* childcare for children aged under 18
* Works buses, or subsidies to public bus services, to get employees to and from work bicycles and cycling safety equipment provided for employees to get to and from work and workplace parking for bicycles and motorcycles the loan by the employer
* Reasonable removal expenses if you have to move to take up a new job or are transferred by your employer
* Genuine personal gifts given for reasons unconnected with the job, for example, retirement gifts other than cash, or wedding gifts
gifts, other than cash, that you receive from someone other than your employer, for example, seats at sporting or cultural events, or club membership.
* C&B containing heads like professional developmemt allowance.
Please clarify as am not clear that you have mentioned "Payment for time not worked" ?
Regards,
Rajat Joshi