FBT Calculation

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harpreet kaur (Querist)
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23 April 2008 Dear All,

Please tell me the FBT Calculation on which expenses and FBT rates to be calculated.

Thanks
Harpreet

C.rajesh

C.rajesh (Expert)
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23 April 2008 there is a nice file for FBT calculation in the share file section. please search for it and your problem may be solved.

Hari Venkata Ramana

Hari Venkata Ramana (Expert)
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23 April 2008 U may refer section 115 (W) AS WELL AS BOOK ON Frigne Benefit Tax by Taxmann Publications. You can ask if you have any specific Doubt.I can briefly say that now FBT is payable on estimated expenditure as Advance tax. Some expenditre are taxable at 20% value, some on 50% value and other at 100 %. Benefits provided by the employer which is taxable in the hands of employee need not be considered for FBT purpose. Latest Guest House expenditure is exempted from FBT. Pre Paid food coupons which is not transferrable is also exempted.

Regards,

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