FBT on expenses

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Bala Abiramy (Querist)
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14 October 2008 Hi all,
A company Bltd has outsourced services(say 100 employees) and has only 2 employees on roll.Benefits such as transportion,mobile phone,foreign travel etc are met by the company Bltd.Will these expenses fall under the preview of FBT though it has only 1 employee on roll?

Bharath Kumar

Bharath Kumar (Expert)
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14 October 2008 An entity which does not have any employee on its rolls, will not be liable to FBT. In the given case FBT will be applicable

Bala Abiramy

Bala Abiramy (Querist)
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14 October 2008 Even when the benefits are given to all the employees,FBT will be attrcated on the whole amount or on amount approtioned to the employees onroll only?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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14 October 2008 If there are heads of expenditure that are specified under sections relating to FBT, even if one employee is there, the presumptive provisions will be attracted.

By the by, how are your OS agency raising bills and which accounting head you charge
in your books?

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