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Fringe Benefit Tax

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This query is : Resolved

varun kumar (Querist)

06 July 2008 Is Fringe Benefit Tax Applicable on Travelling expenditure incurred for the purchase of machinery? I read somewhere on the net, may be on caclubindia.com, it is not applicable on it, but unable to locate it again. Plz facilitate & if not applicable, how can i prove my point? my e-mail id: varunk.gupta@yahoo.com

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

06 July 2008 There is no exemption in the section.

Pranesh

Pranesh (Expert)

06 July 2008 There is no exemption to Travelling expense . If the travel is done for purchase of machinery then make sure it is booked under head "Travel", Dont book it under "conveyance". % of Conveyance taxed is 20%, Where as for travel it is only 5%.Moreover dont capitalise FBT paid on travel along with machinery.

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