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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
