FBT on group insurance on staff
This query is : Resolved
27 March 2009
Is group health insurance and group personal accident insurance premiums paid for staff is liable for FBT?
27 March 2009
If the expenditure incurred or payment made by the employer for the purpose of Group Personal Accident/ Workman Compensation Insurance is a statutory obligation in terms of the provisions of the Explanation to clause (E) of sub-section (2) of section 115WB, such expenditure will not be liable to FBT.
However, if such expenditure is not a statutory obligation, the same would be liable to FBT.
However, if such expenditure is not a statutory obligation, the same would be liable to FBT.
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