Query on Salary
This query is : Resolved
13 September 2008
I wanted to know whether Car Emi and Laptop Emi paid to Employees are taxable in their hands?and is car emi is included while calculating FBt for that Co.
13 September 2008
Amount paid to meet out personal obligations is taxable in the hand of the employee and no FBT is payable on the same.
13 September 2008
but that car and laptops are being used for office purposes.so,it would be taxable allowances?
13 September 2008
That makes no difference. By use of personal assets for the employer,s business, the ownership of the assets is not transferred. The employee may be reimbursed normal running and wear and tear but not the EMI. Car expenses reimbursed to the employess are definitely covered under FBT.
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