FBT on OT Payments

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Purohitha

Purohitha (Querist)
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26 May 2009 Dear all,

Is there FBT applicable for Over Time Payments to Employees?

Plsssssssss reply soon-----------

taxindiaconnect

taxindiaconnect (Expert)
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26 May 2009 No. Overtimne payments are part of salary and are taxable in the hands of the the employees, hence are not covered under any of the provsions under section 115WB. Accordingly no FBT is required to be paid on such payments.

taxindiaconnect

taxindiaconnect (Expert)
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26 May 2009 No. Overtime payments are part of salary and are taxable in the hands of the the employees, hence are not covered under any of the provisions under section 115WB. Accordingly no FBT is required to be paid on such payments.

Purohitha

Purohitha (Querist)
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27 May 2009 thanks for the reply

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