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FBT

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(Querist)
10 March 2009 Sir,

In an school organisation wether it is necessary to pay FBT.....?
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
10 March 2009 u/s 115 W(a) FBT is applicable on all Persons except following
1 Individual
2 HUF
3 Person Whose income is exempt u/s 10(23C) or 12AA
4 Political Party u/s 29A
5 Government Cos. (both State or Central)
in your case if School is formed u/s 10(23)then no FBT liable else you have to pay FBT
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