Whether expenses done by school for annual day function will come under Entertainment Expenses and liable to FBT?
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FBT
Replies (15)
In what category is the school assessed -Whether it claims exemption u/s 12?
no, it doesn't claim exemption u/s 12.
Yes , FBT will be Applicable u/s 115WB Sub section 2L
Yes, The scholl will be liable to pay FBT on entertainment expenses.
yes the school will be liable to pay FBT.
No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities.
No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities.
No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities.
| Originally posted by :deepak K Gujrati | ||
| " | No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities. | " |
Yes. These expenses will attract FBT. Though the annual function isa part of curriculum it is not mandatory for school to conduct the same.
refer to tushar yerawar and deepak k gujrati
Yes, entertainment expenses would be liablre to FBT even if it is a part of the curriculum or not. As, FBT has deemeing provisions for entertainment expenses, and thus actual purpose is irrelevant. Therefore it is deemed that 20% of the total entertainment expenditure is liable for FBT.
Yes it will be liable to FBT, under Employees Welfare @ 20%,
Thanks
whether free samples are exmpted from FBT?
Yes FBT will be aplicable on 20% of expenses
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