Hi all,
My company is distributing sweets to employees for diwali festival, is it attracting FBT ?
Menu
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).
Recent Topics :
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
Related Topics :
CAclubindia
