FBT

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Baji Reddy Thumma (Querist)
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19 March 2009 I want to know the FBT caluculation details and who much percent do we need to caluculate for different perquisites

Tushar Yerawar

Tushar Yerawar (Expert)
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19 March 2009 FBT calculation needs to be done for following category of fringe benefits.

Any privilege, services,facility or amenity, directly or indirectly, provided by an employer, whether by way of reimbusement or other wise, to his employees
Any free or concessional ticket provided by the employer for private journeys of his employees or their family members
Any contribution by the employer to an approved superannuation fund for employees in excess of Rs. 100,000 per employee
Any equity compensation by way of stock awards and/ or options
Entertainment
Provision of hospitality of every kind by the employer to any person, except (a) expenditure on food/ beverages provided by the employer to his employees in office or factory, (b) expenditure through non-transferable prepaid vouchers and (c) non-transferable prepaid electronic meal cards;
Conference Expenditure
Sales promotion Expenditure
Employees' welfare
Expenditure on conveyance
Expenditure on use of hotel, boarding and lodging facilities;
Expenditure on repair, running (including fuel), maintenance of motorcars and the amount of depreciation thereon
Expenditure on repair, running (including fuel), maintenance of aircrafts and the amount of depreciation thereon
Expenditure on use of telephone (including mobile phone)
Maintenance of any accommodation in the nature of guest house other than accommodation used for training purposes
Expenditure on festival celebrations
Expenditure on use of health club and similar facilities
Expenditure on use of any other club facilities
Expenditure on Gifts
Expenditure on scholarships
Expenditure on tour and travel (including foreign travel)

Please refer CIRCULAR NO. 8/2005, DATED 29-8-2005 for details.

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