FBT ON GIFT
This query is : Resolved
17 July 2008
FBT levied on gift to employee, can be reimbursed from employees.
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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