FBT liability on Conveyance Reimbursement
This query is : Resolved
21 March 2009
Hi friends,
Please clarify whether FBT is applicable in the following case:
If a company reimburses conveyance expenses incurred by the employee exclusively in relation to work of the client, and later on company gets reimbursement from the client, whether such "out of pocket expenses" are liable to FBT under the head " Conveyance"?
Thanks & regards
SRAVANI P
Please clarify whether FBT is applicable in the following case:
If a company reimburses conveyance expenses incurred by the employee exclusively in relation to work of the client, and later on company gets reimbursement from the client, whether such "out of pocket expenses" are liable to FBT under the head " Conveyance"?
Thanks & regards
SRAVANI P
Shailesh Prajapati
(Expert)
21 March 2009
Yes. As per the Section 115WB (2)(F)/(o) Conveyance expenses incurred in respect of project assigned by a client which is later on reimbursed by the client is included in this section.
Hence the FBT is leviable.
Hence the FBT is leviable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
