Is director considered as employee for FBT ?
This query is : Resolved
20 November 2007
The company is having only directors. there are no employees.Will the expenses incurred by director considered for FBT ?
Mention with provision,circular.....
Mention with provision,circular.....
20 November 2007
CIRCULAR NO 8/2005 DT 29 TH AUG. 05 OF THE IT DEPT. HOLDS THAT EMPLOYER-EMPLOYEE RELATIONSHIP IS A PREREQUISITE FOR LEVY OF FBT.
EVEN THE CHARGING SECTION 115WA SAYS THE SAME.
IF THERE ARE NO EMPLOYEES, THERE IS NO FBT.
DIRECTOR IS NOT AN EMPLOYEE AS HE DOES NOT HOLD AN EMPLOYMENT CONTRACT OR APPOINTMENT LETTER.(REFER TAXMAN'S GUIDE TO FBT 2005 -PARA 2.10-1).
SO NO FBT IN THE CASE STATED ABOVE BY YOU.
R.V.RAO
EVEN THE CHARGING SECTION 115WA SAYS THE SAME.
IF THERE ARE NO EMPLOYEES, THERE IS NO FBT.
DIRECTOR IS NOT AN EMPLOYEE AS HE DOES NOT HOLD AN EMPLOYMENT CONTRACT OR APPOINTMENT LETTER.(REFER TAXMAN'S GUIDE TO FBT 2005 -PARA 2.10-1).
SO NO FBT IN THE CASE STATED ABOVE BY YOU.
R.V.RAO
04 December 2007
there is no employee employer relationship. therefore no FBT.
18 January 2008
then why TDS is deductible on director's salary when there is no employee-employer Relationship????????
10 August 2008
if director is employed by the co for e.g as executive director, wtd, then they are employees. & liable to tds & fbt.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- RELATED TO TRIBUNAL APPEAL
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Difference between Date of Payment and Date of Deduction?
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
