is conveyance/transport allowance subject to FBT?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2010 Hi,
Kindly let me know if conveyance/transport allowance is subject to FBT? If so, what is the tax rate?

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

13 January 2010 It was not subject to FBT and also FBT scrapped w. e. f. 01.04.2009.

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2010 Is it been scrapped for employers only? or for employees also?

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

13 January 2010 Employees never paid FBT. It is paid on the perquisites provided by the employer to the employee.

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2010 Thank you :-)

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

13 January 2010 FBT Abolished ,now it is taxable in the hands of employee

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2010 Pls clarify. What is taxable in the hands of employees?

CA. Pradeep Nayak

CA. Pradeep Nayak (Expert)
Follow

14 January 2010 Conveyance/Transport Allowance was not subject to FBT during FBT regime. From 01/04/2009 FBT has been withdrawn. As earlier, even now it is taxable in the hands of employees only, subject to an exemption u/s 10(14) of Rs. 800 p.m

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

14 January 2010 Now the same is taxable means the same is liable for payment of income tax by the employee on the perquisites. Conveyance allowance upto Rs. 800/- p. m. exempt u/s 10(14)

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2010 Thanks a lot to both of you.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

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

Tushar Gupta

madhuseshu yathirajam

CA.K.RAMAKRISHNA. PRABHU

Krishnan V

chandradhass sathish

Subscribe Now

is conveyance/transport allowance subject to FBT?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA