books & periodicals - Uniform allowance-fbt effected

This query is : Resolved

harshit (Querist)
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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

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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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

CA. Kirti S. Ganatra

CA. Kirti S. Ganatra (Expert)
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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

CA Anil Jain (Expert)
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16 February 2008 but Food facility provided in the factory premises is not liable to FBT.

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