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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FBT query
Replies (4)
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)
Yes,
FBT is levied @ specified % of the Total Value of Benefits provided to the Employee.
on total fare
Yes on total payment. Same priciple to be follwed in case of TDS for tds related payments
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