normally fbt will be attracted on the insurance premium paid to cover the risk of life of the employees, but whether insurance premium paid on the risk of dependants of the employee, are liable to fbt
pleae anybody can clarify in this regard
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FBT ON INSURANCE
Replies (2)
The employer is paying insurance premium on the risk of family of employee because of his employer-employee relation only. This will fall as perquisite and for FBT will be staff welfare
hi,mr.v.k duggal,as u had mention F.B.t is payable on premium paid,pls let me know if life insurance premium paid by employer ( not a group insurance plan & not a statutary obligation of employer) for director or senior level employee , weather it is taxable as perquisite to employee u/s 17(2)(v) or f.b.t is payable by employer under dtaff welfare?
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