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FBT

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TAX CONSULTANT
105 Points Posted on 09 January 2008
   Plz do reply,
                 If a auditor incurred expenses for tour,travels for assigning audit work and then after whole expenses are reimbursed by the client ,then who is liable for FBT?
 
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On 09 January 2008 at 14:06 Report
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article
2677 Points Posted on 09 January 2008
no its no liable for FBT, ref circular of fbt question no.13 which clearly states that FBT is not liable in the hands of the client.
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On 09 January 2008 at 14:32
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article assitant
147 Points Posted on 09 January 2008
AUDITOR IS LIABLE FOR FBT. SINCE THE EXPENDITURE ON TRAVELLING, HOTEL ETC IS INCURRED BY THE COMPANY (IN THIS CASE AUDITOR) AND NOT BY THE CLIENT , THE COMPANY IS LIABLE TO FBT IN RESPECT OF SUCH EXPENDITURE. HOWEVER THE CLIENT WILL NOT BE LIABLE TO FBT IN RESPECT OF PAYMENT FOR SUCH EXPENDITURE.
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On 09 January 2008 at 14:37
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Chartered Accountant
119 Points Posted on 17 January 2008
dear kamlesh, first of all the auditors are mainly properitory and partnership firms in india not pvt. ltd company ,so there is no question of fbt. and client rembuirshed the bill so it will be not fbt in hands of client
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On 17 January 2008 at 11:44
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practice
206 Points Posted on 21 January 2008
there is no chargeability of FBT in case of reimbursement of expenditures. it is chageable on whom , who incurrs actually.if ca firm is proprietorship then there is no question of FBT and in case of parnership it is applicable
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On 21 January 2008 at 14:07
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CA Final
814 Points Posted on 14 February 2008
FBT is very well attracted. FBT will be charged on expenses incurred by the assessee which fall under the ambit of FBT, even if such expenses are reimbursed to the him. FBT is ATTRACTED.
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On 14 February 2008 at 18:16


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