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FBT ON GIFT

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(Querist)
17 July 2008 FBT levied on gift to employee, can be reimbursed from employees.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
17 July 2008 There is no ststutory requirement in this regard. However, such an arrangement may be reached by the employer and the employee by mutual agreement. But, the amount covered by such reimbursement will be the taxable income in the hands of the employer.
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