'Rules on fringe benefit to leave little room for discretion'.

(From Business Line)

New Delhi, March 2 - THE Finance Ministry on Wednesday said that the guidelines for the implementation of the proposed fringe benefit tax would be "practicable" so as to leave little room for discretion at the hands of the income-tax assessing officers.

The Ministry also expressed willingness to review the base level of various expenses, including the contribution made by the employer to the approved superannuation fund, specified to be considered for the proposed fringe benefit tax.

Apprehending that many legitimate business expenditure may come within the ambit of fringe benefit tax, industry associations like Confederation of …