FBT on OT Payments
This query is : Resolved
26 May 2009
Dear all,
Is there FBT applicable for Over Time Payments to Employees?
Plsssssssss reply soon-----------
Is there FBT applicable for Over Time Payments to Employees?
Plsssssssss reply soon-----------
26 May 2009
No. Overtimne payments are part of salary and are taxable in the hands of the the employees, hence are not covered under any of the provsions under section 115WB. Accordingly no FBT is required to be paid on such payments.
26 May 2009
No. Overtime payments are part of salary and are taxable in the hands of the the employees, hence are not covered under any of the provisions under section 115WB. Accordingly no FBT is required to be paid on such payments.
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