banner_ad

query regarding fbt

This query is : Resolved 
Profile Image

Profile Image

(Querist)
18 December 2008 hello frnds,

please guide me on the following matter-

my company ABC limited has paid a bonus of Rs 20 lacs in cash to it's labour threw contractor on the occasion of deepawali. otherwise it would not pe paid..

please tell me whether the same will be liable to FBT or not..if yes please also provide the references of act or any other notfication/circulars
Profile Image

CA.ViVeK M ACA

Profile Image

CA.ViVeK M ACA (Expert)
18 December 2008 If the bonus is paid under the statute of payment of bonus Act, there is no levy of FBT, otherwise it would be liable for the fbt
Profile Image

Jitender

Profile Image

Jitender (Expert)
18 December 2008 it is not liable to fbt as the same is chargeable u/h Salary. & whatever is charged as salary , no fbt is payable on it.
Profile Image

CA Tilak Raj Sharma

Profile Image

CA Tilak Raj Sharma (Expert)
18 December 2008 Diwali Gifts are liable for FBT, not Diwali bonus. It is fully taxable in the hands of employees. No FBT.
Profile Image

CA RAMESH KUMAR AHUJA

Profile Image

CA RAMESH KUMAR AHUJA (Expert)
19 December 2008 No, it is taxable in the hands of recepient as salaries.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details