27 March 2009
If the expenditure incurred or payment made by the employer for the purpose of Group Personal Accident/ Workman Compensation Insurance is a statutory obligation in terms of the provisions of the Explanation to clause (E) of sub-section (2) of section 115WB, such expenditure will not be liable to FBT.
However, if such expenditure is not a statutory obligation, the same would be liable to FBT.
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