FBT
This query is : Resolved
03 March 2009
sir, I want to know Which type of tour & travelling Exps. Covered under 5% of FBT.
for e.g.
when the marketing people goes in to the tour they have following Exps.
- tour ticket Exps.
- Guest house Exps.
- food Exps.
- Conveyance Exps.
So, i want to know that all the above Exps come under 5% OR only tour Ticket Exps.come under 5%?
for e.g.
when the marketing people goes in to the tour they have following Exps.
- tour ticket Exps.
- Guest house Exps.
- food Exps.
- Conveyance Exps.
So, i want to know that all the above Exps come under 5% OR only tour Ticket Exps.come under 5%?
04 March 2009
In respect of Tour & Travel and conveyance taxable value is 5% and food and guest house expenses taxable under boarding and lodging, taxable value which is 20% under the provisions of IT Act, 1961
In respect of Tour & Travel and conveyance taxable value is 5% and food and guest house expenses taxable under boarding and lodging, taxable value which is 20% under the provisions of IT Act, 1961
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