FBT on Lona to Employees
This query is : Resolved
Amin Jignesh
(Querist)
23 January 2009
If an employer paid a loan without interest then it attracts FBT to employer ????
what if employer gives a loan with interest at SBI rate?????
revert
Thanks in Advance
what if employer gives a loan with interest at SBI rate?????
revert
Thanks in Advance
CA Amarpal
(Expert)
23 January 2009
Dear Amin,
As per the given facts,
1. Any loan provided by the employer to employee whether interest free or with interest, does not attract FBT. It will be taxable in the hands of the employee.
2. if the loan is given with interest at SBI rule, then amount of prequites taxable in the hands of employee will be nil.
amarpal@icai.org
As per the given facts,
1. Any loan provided by the employer to employee whether interest free or with interest, does not attract FBT. It will be taxable in the hands of the employee.
2. if the loan is given with interest at SBI rule, then amount of prequites taxable in the hands of employee will be nil.
amarpal@icai.org
K V Subba Rao
(Expert)
23 January 2009
Budget is only about one month away from now.
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