19 August 2008
I am getting conveyance from CA FIRM as I am pursuing articleship and use to go on audit to and fro. so anyone will tell me that is that coveyance amt is liable for FBT in firm's hand.
If yes, Then
one more question arise that,is this employer employee relationship for charging FBT?
conveyance paid to a articled student is liable for FBT.
Employer and employee relationship is one of the condition to qualify any expenditure subject to a FBT.
stipend is paid to remunerate for the services provided by him. Eihter salary or wages or remuneration etc., are all related to the same category. So the stipend paid to the articled clerk is not subject to FBT.
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