19 March 2009
FBT calculation needs to be done for following category of fringe benefits.
Any privilege, services,facility or amenity, directly or indirectly, provided by an employer, whether by way of reimbusement or other wise, to his employees Any free or concessional ticket provided by the employer for private journeys of his employees or their family members Any contribution by the employer to an approved superannuation fund for employees in excess of Rs. 100,000 per employee Any equity compensation by way of stock awards and/ or options Entertainment Provision of hospitality of every kind by the employer to any person, except (a) expenditure on food/ beverages provided by the employer to his employees in office or factory, (b) expenditure through non-transferable prepaid vouchers and (c) non-transferable prepaid electronic meal cards; Conference Expenditure Sales promotion Expenditure Employees' welfare Expenditure on conveyance Expenditure on use of hotel, boarding and lodging facilities; Expenditure on repair, running (including fuel), maintenance of motorcars and the amount of depreciation thereon Expenditure on repair, running (including fuel), maintenance of aircrafts and the amount of depreciation thereon Expenditure on use of telephone (including mobile phone) Maintenance of any accommodation in the nature of guest house other than accommodation used for training purposes Expenditure on festival celebrations Expenditure on use of health club and similar facilities Expenditure on use of any other club facilities Expenditure on Gifts Expenditure on scholarships Expenditure on tour and travel (including foreign travel)
Please refer CIRCULAR NO. 8/2005, DATED 29-8-2005 for details.
CAclubindia
