Fringe Benefit Tax
This query is : Resolved
20 March 2008
hi,
a herbal product company has given diwali gift to doctors (gift in kind, not medicines)
the expense has been treated as sales promotion expense
plz tell me,
can it be taken under sales promotion as per FBT?
How is sales promotion and gift differentiated?
or
will the expense fall under Festival celebration expense?
a herbal product company has given diwali gift to doctors (gift in kind, not medicines)
the expense has been treated as sales promotion expense
plz tell me,
can it be taken under sales promotion as per FBT?
How is sales promotion and gift differentiated?
or
will the expense fall under Festival celebration expense?
20 March 2008
It will fall under the category of Sales promotion exp. As the intension of the same is related with sales promotion.
20 March 2008
hi chaitanya........
But the gift is given in diwali occassion not in normal situation, so this will come as festival expenses not as sales promotion.
So 50% of the amount is liable for FBT.
But the gift is given in diwali occassion not in normal situation, so this will come as festival expenses not as sales promotion.
So 50% of the amount is liable for FBT.
20 March 2008
Any Specific Rule overrides General Rule.
So As Ricky said Festival overrides business promotion.
The amount is chargeable @ 50%
So As Ricky said Festival overrides business promotion.
The amount is chargeable @ 50%
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
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Suggestions required for income tax filing-software (FY 2025-26)
- STCG FOR GOLD ETFs
- E way bill for tractors
- LTCG for Assmt year 26-27
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
