Amount paid as registration fees or participation fees for participation in any conference or seminar by director of company ,paid by company liable to FBT? sunnykvbilaney@….co.inThe expense on conference is within purview of fringe benefit of tax u/s 115WB(2)(c) of the I T Act. Therefore , let us refer the section : “(C) conference (other...
Whether Transportation Facility To Employees Make One Liable Under FBT?
July 9, 2008 by Leave a Comment
If the company is providing transportation facility to its employees for commuting from Home to office & back is it covered under FBT if it is then what is the percentage.Bhagya, Banglore The answer to your question is given under Answer 104 of CBDT Circular No 8/2005 dated 29/8/2005 which is given as under Whether [...]
Is FBT Payable On Sale of Car At Concessional Price By The Employer?
July 8, 2008 by Leave a Comment
If employee purchases second hand car from his employer then it to be treat as perquisites and come under FBT and what rate tax or FBT employee or employer has to pay?Priti, Mumbai The second hand car given to employee at concessional price, can be termed as perquisite u/s 17(2)(viii) of the I T Act [...]
Is A Contractor Filing Return Under 44AD Scheme Liable To FBT?
July 7, 2008 by Leave a Comment
What is the liability of F.B.T in the case of contractor who is coming u/s 44AD.?Vishal Jaiswal , Varanasi FBT is a tax on the fringe benefits made available by the Employer to employee.Fringe Benefit Tax has no relationship with kind of income a person is earning. In fact , even if one does not [...]
Is Free Lunch Coupons of Sodexho Taxable ?
June 25, 2008 by 1 Comment
Can you please provide the details of exemption limits on meals provided by employer as well as meal coupons issued by Sodexho. I am informed that there is a provision for getting exemption of Rs 2500 per month under this. Can you please explain with the relevant income tax rule under which this is allowed. [...]
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