FBT on Ticket cancellation charges
This query is : Resolved
20 March 2009
Hello
so many times in corporate flight/railway ticket cancel which result a liablities to pay cancellation charges.so advice me whether on cancellation charges company has to pay FBT and same booked under travelling expenses or separtion should be made while calculation of FBT liablities. i hope u reply with reference of related provision.
so many times in corporate flight/railway ticket cancel which result a liablities to pay cancellation charges.so advice me whether on cancellation charges company has to pay FBT and same booked under travelling expenses or separtion should be made while calculation of FBT liablities. i hope u reply with reference of related provision.
20 March 2009
There is no specific notifications/clarification issued by the department. However if you will post these expenses under Travelling Expenses then FBT will be applicable on this expenses.
However in my opinion it is the part of travelling expenses and should be posted under the same account head.
However, if you want to avoid FBT then you can post these expense under Misc. Expenses.
However in my opinion it is the part of travelling expenses and should be posted under the same account head.
However, if you want to avoid FBT then you can post these expense under Misc. Expenses.
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