Dear all,
Can any one tell me about "FBT on Inaguartion Expenses" for AY 2009-10 is attracted or not?
Does it comes under 'Entertainment' or 'Provision of hospitality of every kind by the employer to any person (but not to the employees in office or factory, or by paid vouchers)'???
Thanks in advance
Dear Ayesha,
U urself replied ur query, i:e "Inaguartion" is an event & different kind of expenses can be incurred like -
1) Foods,etc
2) Gift
3) Lightining
4) Payment to brand amassador
Therefore the nature of expenses will determine whether FBT is leviable or not.
Thanks Amir,
As you said it is Food etc., purchased on inaguration day, does it attracts FBT?
Dear Ayesha,
Yes it will attract FBT under "Provision of Hospitality"
Thank You!!!!!!
Dear Ayesha,
Welcome
CAclubindia
