FBT ON STIPENED
This query is : Resolved
19 August 2008
I am getting conveyance from CA FIRM as I am pursuing articleship and use to go on audit to and fro. so anyone will tell me that is that coveyance amt is liable for FBT in firm's hand.
If yes, Then
one more question arise that,is this employer employee relationship for charging FBT?
If yes, Then
one more question arise that,is this employer employee relationship for charging FBT?
19 August 2008
Hi,
conveyance paid to a articled student is liable for FBT.
Employer and employee relationship is one of the condition to qualify any expenditure subject to a FBT.
stipend is paid to remunerate for the services provided by him. Eihter salary or wages or remuneration etc., are all related to the same category. So the stipend paid to the articled clerk is not subject to FBT.
conveyance paid to a articled student is liable for FBT.
Employer and employee relationship is one of the condition to qualify any expenditure subject to a FBT.
stipend is paid to remunerate for the services provided by him. Eihter salary or wages or remuneration etc., are all related to the same category. So the stipend paid to the articled clerk is not subject to FBT.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
