fringe benefit tax
This query is : Resolved
26 September 2008
Sir, can i get the details of which are the expenses liable to pay fringe benefit tax and its percentages.
26 September 2008
Section under which chargeable to Fringe Benefit Tax Nature of expenditure / payments Percentage expenditure / Payment being Fringe Benefits
2 3 7
115WB(1)(b) Free or concessional ticket provided by the employer for private journeys of his employees or their family members 100%
115WB(1)(c) Any contribution by the employer to any approved Superannuation fund for employees 100%
115WB(2)(A) Entertainment 20%
115WB(2)(B) Provision of Hospitality of every kind by the employer to any person 20%
115WB(2)(C) Conference (other than fee for participation by the employees in any conference 20%
115WB(2)(D) Sales Promotion including publicity 20%
115WB(2)(E) Employees' Welfare 20%
115WB(2)(F) Conveyance, tour and travel (including foreign travel) 20%
115WB(2)(G) Use of hotel, boarding and lodging facilities 20%
115WB(2)(H) Repair, running (including fuel), maintenance of motor cars and the amount of depreciation thereon 20%
115WB(2)(I) Repair, running (including fuel), maintenance of aircrafts and the amount of depreciation thereon 20%
115WB(2)(J) Use of telephone (including mobile phone) other than expenditure on leased telephone lines 20%
115WB(2)(K) Maintenance of any accomodation in the nature of guest house other than accommodation used for training purposes 20%
115WB(2)(L) Festival celebrations 50%
115WB(2)(M) Use of health club and similar facilities 50%
115WB(2)(N) Use of any other club facilities 50%
115WB(2)(O) Gifts 50%
115WB(2)(P) Scholarships 50%
115WB(2)(Q) Tour and Travel (including foreign travel) 5%
2 3 7
115WB(1)(b) Free or concessional ticket provided by the employer for private journeys of his employees or their family members 100%
115WB(1)(c) Any contribution by the employer to any approved Superannuation fund for employees 100%
115WB(2)(A) Entertainment 20%
115WB(2)(B) Provision of Hospitality of every kind by the employer to any person 20%
115WB(2)(C) Conference (other than fee for participation by the employees in any conference 20%
115WB(2)(D) Sales Promotion including publicity 20%
115WB(2)(E) Employees' Welfare 20%
115WB(2)(F) Conveyance, tour and travel (including foreign travel) 20%
115WB(2)(G) Use of hotel, boarding and lodging facilities 20%
115WB(2)(H) Repair, running (including fuel), maintenance of motor cars and the amount of depreciation thereon 20%
115WB(2)(I) Repair, running (including fuel), maintenance of aircrafts and the amount of depreciation thereon 20%
115WB(2)(J) Use of telephone (including mobile phone) other than expenditure on leased telephone lines 20%
115WB(2)(K) Maintenance of any accomodation in the nature of guest house other than accommodation used for training purposes 20%
115WB(2)(L) Festival celebrations 50%
115WB(2)(M) Use of health club and similar facilities 50%
115WB(2)(N) Use of any other club facilities 50%
115WB(2)(O) Gifts 50%
115WB(2)(P) Scholarships 50%
115WB(2)(Q) Tour and Travel (including foreign travel) 5%
26 September 2008
and at the value of Fringe Benfits 33.99% is the Fringe Benefit Tax
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- 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
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
