FBT on conveyance..??
This query is : Resolved
20 December 2007
When an employee is on travel the expenses incurred during travel as conveyance ,
would such conveyance be liable for FBT under Travel at 5% or under conveyance at 20%
would such conveyance be liable for FBT under Travel at 5% or under conveyance at 20%
20 December 2007
Hi Chandan,
The same shall be considered under Tour & Travel u/s 115WB(2)(Q) and the value of fringe benefit shall be subject 5% of the expenses.
Rgds/
Vineet
The same shall be considered under Tour & Travel u/s 115WB(2)(Q) and the value of fringe benefit shall be subject 5% of the expenses.
Rgds/
Vineet
28 December 2007
take this eg-
an employee on travel incurs the follow exp
travel fare - 2000
telephone - 2000
boardin & lodgin - 2000
conveyance - 2000
meetin exp - 2000
now the company takes all the expense to the respective accounts except conveyance which is taken to travel a/c n FBT @5% instead of 20%..
i personally feel tats wrong.
wats ur view..??
an employee on travel incurs the follow exp
travel fare - 2000
telephone - 2000
boardin & lodgin - 2000
conveyance - 2000
meetin exp - 2000
now the company takes all the expense to the respective accounts except conveyance which is taken to travel a/c n FBT @5% instead of 20%..
i personally feel tats wrong.
wats ur view..??
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