FBT

This query is : Resolved

Nilesh Mehta (Querist)
Follow

17 June 2009 a pvt. ltd. company does not have any employee during the year however three directors are there. whether it is liable to FBT or not.

CA.SHAHZAD SAYYED

CA.SHAHZAD SAYYED (Expert)
Follow

17 June 2009 FBT is not depend upon no. of employee, FBT is levied on all person except following
1)Individual
2)HUf
3)Social Club
4)Political Party
5)Person Registered u/s 10(23D)
therefor ur company is liable for FBT

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
Follow

17 June 2009 If the directors are executive diectors then yes, otherwise no.

Upgrade to CAclubindia Pro. Subscribe Now!

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

17 June 2009 FBT is levied on certain specified expenses in respect of the fringe benefits provided or deemed to have been provided by an employer to his employees. Therefore, Mr. Sayyed's answer needs reconsideration. Agree with Mr. Nitin's view.