FBT on Transportation Allowance
This query is : Resolved
Ramasubbu K
(Querist)
01 December 2007
A company provides Transportation allowance to employees which is exempt under Section 10 to the extent of Rs.800 P.M. in the hands of the employee. Whether the Company has to pay FBT on the transportation allowance given to its employees?
CA Praveen Chopra
(Expert)
02 December 2007
No such Transport Allowance is not liable for FBT as per circular no.8/2005 dtd.29/08/2005
K V Subba Rao
(Expert)
03 December 2007
Mr Prveen Chopra's Observation is correct.
You may also refer Para 224.4.8 of 30th edition of the Singhania's Direct Taxes Ready Reckoner
You may also refer Para 224.4.8 of 30th edition of the Singhania's Direct Taxes Ready Reckoner
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