If an employee incurred some expenses regarding travel out ot the city and within city for office purpose and the same has been claimed. Will the same expenses attract FBT, if so what is the rate?
If an employee incurred some expenses regarding travel out ot the city and within city for office purpose and the same has been claimed. Will the same expenses attract FBT, if so what is the rate?
no it will not attract FBT because it is the reimbursement by the employer which do not attract FBT
Yes. As per section 115WB(2)(F) all tour and travel expenses though incurred by the employee for official purposes shall be a deemed F.B. The value of such F.B. shall be 5% of such expenses.
Yes, FBT is applicable...!!!
For Conveyance -20%
For Tours and Travels(including Foreign travel) - 5%
yes ...........Mr. Sripada M is right...............
fbt is applicable and value will be :-
conveance (within city) 20%
travelling (outside city) 5%
Yes. As per section 115WB(2)(F) all tour and travel expenses though incurred by the employee for official purposes shall be a deemed F.B. The value of such F.B. shall be 5% of such expenses.
| Originally posted by :Viswamohan | ||
| " | If an employee incurred some expenses regarding travel out ot the city and within city for office purpose and the same has been claimed. Will the same expenses attract FBT, if so what is the rate? | " |
FBT applicable as follows:
Conveyance (within city) 20%
Travelling (outside city) 5%
Subject to conditions
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