Fringe Benefit Tax
This query is : Resolved
02 March 2009
Dear all,
We have reimbursed a sum of Rs.1,35,00 to one of our employees for notice period pay to his previous employer. Does this attract FBT , if so what is the percentage? Does it become Income for the purpose of calculation of tax for the employee?
We have reimbursed a sum of Rs.1,35,00 to one of our employees for notice period pay to his previous employer. Does this attract FBT , if so what is the percentage? Does it become Income for the purpose of calculation of tax for the employee?
02 March 2009
It is taxable in the assessment of employee; hence no FBT
By the way, in these days of recession also, is the practice of reimbursing Notice Pay still continuing !
By the way, in these days of recession also, is the practice of reimbursing Notice Pay still continuing !
02 March 2009
No FBT on this reimbursement. It is in the nature of salary and taxable in the hands of employee only.
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