FBT on tour and travel conveyance
This query is : Resolved
thyagarajan
(Querist)
15 September 2008
Query No.:1
Pl clarify the rate of FBT for the following expenses
1. Travel Fare (Bus/Train/Air)
2. Conveyance (usage of Taxi/Auto/2 wheeler)
3. Boarding & lodging - reimbursement or fixed allowance
Query No.2
Whether usage of Taxi or Auto can be ocnsidered as Travel Fare?
Pl clarify the rate of FBT for the following expenses
1. Travel Fare (Bus/Train/Air)
2. Conveyance (usage of Taxi/Auto/2 wheeler)
3. Boarding & lodging - reimbursement or fixed allowance
Query No.2
Whether usage of Taxi or Auto can be ocnsidered as Travel Fare?
15 September 2008
If you mean the value of fringe benefits it is as follows.
1.5%
2.20%
3.20%
On the other hand ,if you mean the tax rate it is 33.99%on the value of fringe benefits to be calculated at the above said %.
1.5%
2.20%
3.20%
On the other hand ,if you mean the tax rate it is 33.99%on the value of fringe benefits to be calculated at the above said %.
thyagarajan
(Querist)
15 September 2008
Pl accept my sincere thanks for prompt reply.
Pl clarify
a) What exactly is conveyance expenses.
b) Is it 30.9 or 33.9%
Pl clarify
a) What exactly is conveyance expenses.
b) Is it 30.9 or 33.9%
thyagarajan
(Querist)
15 September 2008
Pl accept my sincere thanks for prompt reply.
Pl clarify
a) What exactly is conveyance expenses.
b) Is it 30.9 or 33.9%
Pl clarify
a) What exactly is conveyance expenses.
b) Is it 30.9 or 33.9%
15 September 2008
Dear Thyagarajan,
The value for FBT is 20% of total expenses incurred & The tax rate is 33.99%.
Regards'
Yatesh Renuke.
The value for FBT is 20% of total expenses incurred & The tax rate is 33.99%.
Regards'
Yatesh Renuke.
15 September 2008
Tax is at 33.99% on 20% of the expdniture.
There are a few good FBT calculators in the Share files section , they can handy to you. Download them.
There are a few good FBT calculators in the Share files section , they can handy to you. Download them.
CA.Tarun Maheshwari
(Expert)
15 September 2008
Mr. B. Chakrapani is absolutely correct.
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