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?
Menu
FBT
Replies (8)
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
Recent Topics :
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
Related Topics :
CAclubindia
