Travelling expenses during the normal course of business (not a reimbursement to any employee) will attract the FBT. Please specify if any circular or case law is there to clarify this doubt.
Menu
FBT on Travelling Expenses
Replies (3)
Travelling Exp. incurred attracts FBT whether reimb to employee or not. It is provided in Act itself. No need to refer any Circular or Case Law. Only exception is Travelling Exp. reimb to Professionals, Fixed Travelling allowances & LTA to employees.
If urs is not a Proprietory Concern, then FBT on Travelling Exp is attracted.
PAWAN (CA FINAL)
Travelling Expenses wheather incurred or reimbursed to employees Except Fixed Travelling allowances & LTA to the employees subject to allowed under this act, FBT shall attract .
Further if traveling exps. is ticketing only then only 5% value shall be taxable otherwise 20% taxable.
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
