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FBT query

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O P Singh & Co.
426 Points Posted on 12 February 2008

Dear All

i want to confirm whether fbt is to be calculated on total fare of Air( Including air fare and taxes) .

 

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On 12 February 2008 at 09:15 Report
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Article
96 Points Posted on 27 February 2008
YES, Section 115WC(1)(a) provides for valuation of fringe benefits referred to in section 115WB(1)(b), at cost at which such benefits is provided by the employer to the general public. so FBT is calculated on total Air fare(Including air fare & taxes)
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On 27 February 2008 at 16:23
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Chartered Accountant
696 Points Posted on 27 February 2008
Yes, FBT is levied @ specified % of the Total Value of Benefits provided to the Employee.
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On 27 February 2008 at 17:14
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C A
7080 Points Posted on 28 February 2008
on total fare
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On 28 February 2008 at 11:43
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Service
1461 Points Posted on 28 February 2008
Yes on total payment. Same priciple to be follwed in case of TDS for tds related payments
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On 28 February 2008 at 14:06


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