FBT on Academic Allowance
This query is : Resolved
23 June 2009
Whether Academic Allowance paid to employee for Academic Studies liable for Tax as FBT for Employer or will it be included in Taxable Income of Employee or it will be exempt upto Actual Expenditure for Both Employer & Employee?
23 June 2009
Academic Allowance paid to employee for Academic Studies shall not liable for FBT
it will it be included in Taxable Income of Employee and it will be exempt upto Actual Expenditure considering it professional development allowance u/s 10(14)(i)
it will it be included in Taxable Income of Employee and it will be exempt upto Actual Expenditure considering it professional development allowance u/s 10(14)(i)
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