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Fringe Benefit Tax

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(Querist)
08 July 2008 whether fringe benefit tax is payable on board meetings and annual general meeting and the expenses related to them.

For eg. rent of the hotel where agm or bm were held, refreshment, travelling fares provided to directors for attending the agm and bm etc.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
08 July 2008 Yes, on the travel and hotel related expenses
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Tarun Gupta

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Tarun Gupta (Expert)
09 July 2008 Yes i agree with Mr. S.Srinivasaraghavan.
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Rishi Vyas

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Rishi Vyas (Querist)
10 July 2008 For levying of FBT the employer employee relationship is a must.

Keeping the above statement in view what is the position of Auditors (Statutory & Internal)and Independent Directors.

Board Meeting is a statutory meeting of the Company and Independent Director is not an employee of the Company, So whether fare (travelling) & conveyance (taxi) provided to the independent Director for attending the BM is liable to FBT
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