14 February 2008
our company was given medical allowance to employees upto rs.15000/- medical bills collected from all employees and exemption given in salary computation.
on that 15000/- fbt effected or not?
Rs.9600/- conveyance allowance given to employees on that amount effected fbt or not ?
14 February 2008
Medical reimbursement, as it comes within welafare category, upto the exempted reimbursement (of Rs 15000), FBT is applicable.
Conveyanc allowance which is in the nature of salaries and allowances FBT is not applicable even though, the allowance is exempt to the extent of Rs 9600 p.a
CAclubindia
