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FBT

This query is : Resolved 
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(Querist)
25 April 2009 Dear all.
Is Insurance premium on group gratuity liable for FBT ?
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
25 April 2009 FBT not applicable
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taxindiaconnect

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taxindiaconnect (Expert)
25 April 2009 I understand the query is whether the contribution paid to an insurer for the purpose of insuring the employer’s liability towards gratuity by way of a gratuity fund is covered for FBT payment. In this regard attention may be invited to question no 38 of the of CBDT circular no 8/ 2005 where in it has been clarified that the contribution to gratuity fund and the recognized provident fund is not covered under FBT provision. According is the reply to this query.
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