Expenses Reimbursement is taxable or Not?
This query is : Resolved
13 March 2008
Hi Sir / Madam
As per my CTC I am getting reimbursement against phone bill , news paper bill from my co. But my question is as per IT it is treated as salary or it is only expenses reimburesement on which co is paying FBT? Means it is taxable or not.
Regards
Anil
As per my CTC I am getting reimbursement against phone bill , news paper bill from my co. But my question is as per IT it is treated as salary or it is only expenses reimburesement on which co is paying FBT? Means it is taxable or not.
Regards
Anil
13 March 2008
Whether company reimburse it to you, it is absolutely expense of the company in the nature of staff welfare which is subject to FBT on the part of the company.
13 March 2008
Mr. praveen Chopra is absolutely correct.
13 March 2008
But My question is that the amount which I am getting by reimbursement is taxable in my hands or not?
13 March 2008
Thanks for your reply
13 March 2008
But somebody told me that the amount of reimbursement will be taxable in my hands. & even co. have to pay FBT on it.& he also told me that from year 2006-07 the amount of reimbursement is taxable in the hands of employee also.
Is it possible that we have to pay a tax twice on same expenses?
Is it possible that we have to pay a tax twice on same expenses?
13 March 2008
Sorry if it is taxable under FBT then it will not taxed in employee hands
13 March 2008
ANY EXPENDITURE TAXED AS FBT WILL NOT BE TAXABLE IN THE HANDS OF EMPLOYEE AGAIN.
R.V.RAO
R.V.RAO
14 March 2008
Thanks for your reply sir
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