In our company we want to give the employee a fixed telephone allowance of Rs.500/-p.m.my question is it is taxable under FBT, and in the hand of employee it is taxable.
Thanks
Menu
FIXED TELEPHONE ALLOWANCE
Replies (2)
It is taxable in the hands of employee.
It is true that Company comes under the purview of FBT, but Telephone Allowance given to Employees does not attract FBT. Because it is chargeable to tax u/s 17, while computing Income of the Employee.
Moreover if the Company gives fixed Telephone Allowance to its Directors, who are not employees of the Company, then it comes under the ambit of FBT.
Recent Topic
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
Related Topics
CAclubindia
