FBT on Table, Mattress etc purchased for Staff Quarter
This query is : Resolved
Mahender Jain
(Querist)
26 February 2009
is FBT is applicable under staff welfare on exp of purchase of Tables, Mattress, Pillow etc provided on Staff quarter
and also what effect come if we show this expense in Fixed assets or in revenvu exp.
is there any differenc on FBT in above both situation
and also what effect come if we show this expense in Fixed assets or in revenvu exp.
is there any differenc on FBT in above both situation
CA. B.SRINIVASULU
(Expert)
26 February 2009
The above expenditure will attract for FBT.
If you show under revenue expenses then treat it as staff welfare and apply the percentage for FBT.
If you treat it as asset then every year On deprectiation charged by you, you have to apply the percentage of FBT for staff welfare and has to pay on the same.
If you show under revenue expenses then treat it as staff welfare and apply the percentage for FBT.
If you treat it as asset then every year On deprectiation charged by you, you have to apply the percentage of FBT for staff welfare and has to pay on the same.
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