Fringe Benefit Tax
This query is : Resolved
20 March 2008
hi,
a herbal product company has given diwali gift to doctors (gift in kind, not medicines)
the expense has been treated as sales promotion expense
plz tell me,
can it be taken under sales promotion as per FBT?
How is sales promotion and gift differentiated?
or
will the expense fall under Festival celebration expense?
a herbal product company has given diwali gift to doctors (gift in kind, not medicines)
the expense has been treated as sales promotion expense
plz tell me,
can it be taken under sales promotion as per FBT?
How is sales promotion and gift differentiated?
or
will the expense fall under Festival celebration expense?
20 March 2008
It will fall under the category of Sales promotion exp. As the intension of the same is related with sales promotion.
20 March 2008
hi chaitanya........
But the gift is given in diwali occassion not in normal situation, so this will come as festival expenses not as sales promotion.
So 50% of the amount is liable for FBT.
But the gift is given in diwali occassion not in normal situation, so this will come as festival expenses not as sales promotion.
So 50% of the amount is liable for FBT.
20 March 2008
Any Specific Rule overrides General Rule.
So As Ricky said Festival overrides business promotion.
The amount is chargeable @ 50%
So As Ricky said Festival overrides business promotion.
The amount is chargeable @ 50%
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Gst Sales of FY 2023-24
- 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.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- 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
