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
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