Is FBT applicablility
This query is : Resolved
23 July 2008
2 of our employees resigned and we had to pay an amount of more than 3.5 lakhs as gratuity...is FBT applicable for the company for the amount more than 3.5 lakhs..please advice
23 July 2008
Gratuity and PF are spared from the FBT.
Refer : Circular No.8/2005 dated 29th August 2005 issued by the Central Board of Direct Taxes, New Delhi. In this article an attempt is being made to highlight and this very exhaustive CBDT Circular as far as the same is relating to the Fringe Benefit Tax and the salaried employee.
Refer : Circular No.8/2005 dated 29th August 2005 issued by the Central Board of Direct Taxes, New Delhi. In this article an attempt is being made to highlight and this very exhaustive CBDT Circular as far as the same is relating to the Fringe Benefit Tax and the salaried employee.
CMA Jitendra Singh
(Expert)
30 September 2008
Mr.Prakash is correct
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