books & periodicals - Uniform allowance-fbt effected
This query is : Resolved
15 February 2008
our company giving employees to
reiumbursement of
1.Uniform Allowance
2.Books & periodicals
3.Club & food expenses
4.interest free loans
the above all are exemption given from salaries. but on that expenditure FBT effected or not ?
the above exemption given after submission of bills or not
please sir
reiumbursement of
1.Uniform Allowance
2.Books & periodicals
3.Club & food expenses
4.interest free loans
the above all are exemption given from salaries. but on that expenditure FBT effected or not ?
the above exemption given after submission of bills or not
please sir
CA Hemant T Dewani
(Expert)
15 February 2008
1-Uniform allowance provision of uniform,
safety equipments,safety wares,shall not be liable to fbt where it is prvided under statutory obligation. Q.74 of the circular
2-reimbursment of expenditure on books and periodicals shall be liable to fbt as ans to Q.75
3-Club and Food expences are liable to fbt
vide clause (N) of s.115WB(2)
4-interest free loan is not liable to fbt
it is liable u/s 17 as perqusit
safety equipments,safety wares,shall not be liable to fbt where it is prvided under statutory obligation. Q.74 of the circular
2-reimbursment of expenditure on books and periodicals shall be liable to fbt as ans to Q.75
3-Club and Food expences are liable to fbt
vide clause (N) of s.115WB(2)
4-interest free loan is not liable to fbt
it is liable u/s 17 as perqusit
CA. Kirti S. Ganatra
(Expert)
15 February 2008
Books Periodical attract FBT and Club Food Exepnse will attract FBT. Even Food exepense will require proof to be submitted
CA Anil Jain
(Expert)
16 February 2008
but Food facility provided in the factory premises is not liable to FBT.
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