FBT on petrol expenses
This query is : Resolved
28 August 2009
Dear Sir
We are paying Rs.3000/- to our 4 employees against reimbursement of petrol expenses. It is a part of their salary. Before this budget we paid FBT on the same, but after the budget FBT is abolished. Then my query is that now we are not paying FBT on it, then is that reimbursement is taxable in the hands of employee? We need to deduct a TDS on it or not?
All employees are submitting petrol expense bills for reibursement every month.
Regards
Anil
We are paying Rs.3000/- to our 4 employees against reimbursement of petrol expenses. It is a part of their salary. Before this budget we paid FBT on the same, but after the budget FBT is abolished. Then my query is that now we are not paying FBT on it, then is that reimbursement is taxable in the hands of employee? We need to deduct a TDS on it or not?
All employees are submitting petrol expense bills for reibursement every month.
Regards
Anil
28 August 2009
The amount of bills submitted by the employees will be taxfree amount & balance all amount will be taxable.
Please check the provision of perquisit on car for the purpose of this case.
Please check the provision of perquisit on car for the purpose of this case.
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