Group insurance scheme-FBT

This query is : Resolved

Gautam (Querist)
Follow

16 February 2008 Hi
i have a query as regarding the employer contribution regarding Group insurance scheme.
Whether the same is eligible for FBT or not?
and if yes the under which section it is covered?

Thanking you
Gautam

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
Follow

16 February 2008 Contribution to approved gratuity funds or provident funds would be outside the levy of fringe benefit tax. However, the Central Board of Direct Taxes circular is silent on applicability of FBT in respect of group personal accident/workman compensation insurance. It only states that only if the expenditure is a part of statutory obligation it would be exempted. Similar would also be the situation with regard to group health insurance, group medical insurance, group life insurance. We feel that all these payments are not a part of statutory obligation hence they would be subjected to FBT. However, the ESI contribution would be outside the purview of FBT because it is a statutory obligation.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Bijo scaria

rana andcompany

sathiyaram

Vinod Dharwarkar

svgovindaraju

Subscribe Now

Group insurance scheme-FBT

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

Accountant

Article Assistant

CA Final

Manager- Finance and Compliance