Dear All
i want to confirm whether fbt is to be calculated on total fare of Air( Including air fare and taxes) .
4 Replies
sandhya
(Article)
(96 Points)
Replied 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)
CA Anil Jain
(Chartered Accountant)
(696 Points)
Replied 27 February 2008
Yes,
FBT is levied @ specified % of the Total Value of Benefits provided to the Employee.
CA. Kirti S. Ganatra
(Service)
(1461 Points)
Replied 28 February 2008
Yes on total payment. Same priciple to be follwed in case of TDS for tds related payments
Recent Topics
- Inadvertently filled and filed Form 10-IEA like la
- Delivery challan e-way bill
- LTCG Section (B1-B12) for RSU Sale after Jul/24
- Regarding Hackathon Prize W-8BEN India-US Tax Trea
- Digital1234
- Unable to claim Deduction in ITR 2 u/s 80 CCD(2)
- FDI-FEMA-Interest on Loan to Mauritius based wholl
- GSTR-4 Return in composition scheme
- Income tax - Forms related
- Family Pension deduction under 57(iia) in new regi
Related Threads
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
