Food Coupons
This query is : Resolved
28 November 2007
What is the monthly exemption limit for food coupons or foods provided in side the business premises to the employees?
Is the expenes taxable under FBT for the employer?
Regards,
Debasish.
Is the expenes taxable under FBT for the employer?
Regards,
Debasish.
29 November 2007
SEC. 115WB(2)PROVIDES THAT FBT IS NOT ATTRACTED ON EXPENDITURE ON OR PAYMENT FOR FOOD OR BEVERAGES PROVIDED BY THE EMPLOYER TO HIS EMPLOYEES IN OFFICE OR FACTORY AND ANY EXP. ON OR PAYMENT THROUGH PAID VOUCHERS WHICH ARE NOT TRANSFERABLE AND USABLE ONLY AT EATING JOINTS OR OUTLETS.
THERE DOES NOT APPEAR TO BE ANY MONTHLY EXEMPTION /MONETARY LIMIT ON SUCH EXP.
R.V.RAO
THERE DOES NOT APPEAR TO BE ANY MONTHLY EXEMPTION /MONETARY LIMIT ON SUCH EXP.
R.V.RAO
29 November 2007
Dear Debasis,
There is limit of Rs.1300/- pm for Food Coupen exemption.It is calculated as (26 working days*Rs.50/- per day)
There is no FBT and is also not taxable in the hands of employees.
Rgds
Venkatesh Rao
Mumbai
There is limit of Rs.1300/- pm for Food Coupen exemption.It is calculated as (26 working days*Rs.50/- per day)
There is no FBT and is also not taxable in the hands of employees.
Rgds
Venkatesh Rao
Mumbai
29 November 2007
Dear Venkatesh,
Per which sec. the limit is Rs. 1300/- pm.
Per which sec. the limit is Rs. 1300/- pm.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
