FBT
This query is : Open
Ravi Agarwal
(Querist)
23 February 2009
Whether an educational institution(MBA)like IIPM, IFCI or any other such institutions providing laptops to students are liable to under FBT provisions?
chetan soni
(Expert)
23 February 2009
No, on one ground i.e. relationship of employer & employee does not exsist.
Ravi Agarwal
(Querist)
23 February 2009
The scope of the term ‘fringe bene-fits deemed to have been provided’ is defined in sub-section (2) of section 115WB so as to provide that fringe benefits shall be deemed to have been provided by the employer if he has incurred any expense on, or made payment for, the Business Promotion, Sales Promotion etc. As clearly evident here there is no employer and employee relatonship while taxing the same.
Ravi Agarwal
(Querist)
23 February 2009
The scope of the term ‘fringe bene-fits deemed to have been provided’ is defined in sub-section (2) of section 115WB so as to provide that fringe benefits shall be deemed to have been provided by the employer if he has incurred any expense on, or made payment for, the Business Promotion, Sales Promotion etc. As clearly evident here there is no employer and employee relatonship while taxing the same.
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