25 November 2008
whether FBT is leviable on a company (registered u/s 25 of the companies Act) even if it is registered u/s 12AA or its income is exempt u/s 10(23C)?
25 November 2008
As per proviso to section 115W(a) any person eligible for exemption u/s 10 (23C) or registered u/s 12AA shall not be an employer for the purposes of Chapter X11-H. As such the said entity is not liable for FBT.
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