FBT on conveyence

This query is : Resolved 

02 August 2008 IS FBT payable on conveyence reimbursed by employer to employee for reaching office from residence and back


02 August 2008 Yes, at the rate of 30% plus surcharge plus Ed. Cess on 20% value of the total conveyance paid.


03 August 2008 It should be only upto Rs.800/- permonth. Over & above that amount there is no fbt liability as that much of amount is taxable in the hands of the employee.

03 August 2008 Dear Abhishek, in my knowledge, it is transport allownace which is exempt upto Rs. 800. Rati had asked for Conveyance reimbursement, and not about the Allownace. Conveyance reimbursement is fully tax free in hands of employee if incurred for official purpose and hence, covered in FBT. If it is wrong, then please clarify me in this regard.



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