FBT on Drivers' T A D A EXP
This query is : Resolved
28 February 2009
Whether Travelling and Dearness allowances paid on fixed rate per hour but fluctuating on overtime basis, is liable to FBT for employer
(pl revert back ASAP)
(pl revert back ASAP)
28 February 2009
(a) Travelling Allowance and Daily Allowance go together and commonly known as TA & DA
(b) There is no nexus between Travelling Allowance and Dearness Allowance
(c) Overtime forms part of salary; hence it is not subject to FBT
(d) Dearness Allowance liked to cost of inflation index forms part of salary; hence not liable for FBT
(e) Travelling Allowance is liable for FBT
(f) Daily Allowance paid when an employees performs duty outside headquarters, being part of TA & DA, is liable for FBT
Please visit
http://news.indiainfo.com/columns/tejinder/052705fbt-abridged-1.html
(b) There is no nexus between Travelling Allowance and Dearness Allowance
(c) Overtime forms part of salary; hence it is not subject to FBT
(d) Dearness Allowance liked to cost of inflation index forms part of salary; hence not liable for FBT
(e) Travelling Allowance is liable for FBT
(f) Daily Allowance paid when an employees performs duty outside headquarters, being part of TA & DA, is liable for FBT
Please visit
http://news.indiainfo.com/columns/tejinder/052705fbt-abridged-1.html
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