13 September 2008
I wanted to know whether Car Emi and Laptop Emi paid to Employees are taxable in their hands?and is car emi is included while calculating FBt for that Co.
13 September 2008
That makes no difference. By use of personal assets for the employer,s business, the ownership of the assets is not transferred. The employee may be reimbursed normal running and wear and tear but not the EMI. Car expenses reimbursed to the employess are definitely covered under FBT.
CAclubindia
