Hi all,
My company is distributing sweets to employees for diwali festival, is it attracting FBT ?
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FBT on sweets
Replies (8)
Yes, it is taxable under Sec 115WB(2)(L) to IT Act, 1961.
Yes,
Yes ,these expenses are liable to FBT U/S 115WB(O) i.e Gifts
No these do not come under 115WB(o) as these are not gifts. They are taxable under Festival celebrations u/s 115WB(2)(L)
hi
m agree with Vidya
it is taxable under the head Festival Celebration under section 115WB(2)(L)
i too agree that it is taxable under Festival celebration 115WB(2)(L)
Vidya is absolutely correct. Expenses for distribution of sweets shall be covered u/s 115WB(2)(L) and the value of fringe benefit shall 50% of such expenses
YES, U/S 115WB(O).
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