FBT
This query is : Resolved
16 September 2009
Whether expenses(Covered under the ambit of FBT e.g.conveyance)incurred by working directors of a Pvt Ltd Company for self travelling for business purpose attract FBT?
17 September 2009
For F. Y. 2009 - 10 FBT has been abolished. So no FBT w. e. f. 01.04.2009.
For F. Y. 2008 - 09 the above expenses though entirely for business purpose will be liable for FBT under travelling @ 5% * tax rate 33.99%
For F. Y. 2008 - 09 the above expenses though entirely for business purpose will be liable for FBT under travelling @ 5% * tax rate 33.99%
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