whether FBT is applicable or not
This query is : Resolved
CA. Mohd. Adnan Ansari
(Querist)
21 August 2008
sir, if a company is paying exps. regading tours & travels for her employee on behalf of her principal .i.e company is paying exps as an agent that is reimbursed by principal then above exps. will come under the head of FBT in the books of company or not? here company's books means company who is working as an agent.
21 August 2008
If Company Bears the Expenditure then.. it has to pay FBT.
CA. Mohd. Adnan Ansari
(Querist)
21 August 2008
sir could u give the explanation of above ans. because i could not get it
CA. Mohd. Adnan Ansari
(Querist)
21 August 2008
agent company is charging only agency fees from his principal & all exps what it icurred for excecuting the task given by principal. then agent company's profit & loss reflecting only agency fees as an indirect income
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