14 March 2008
Sponsorhip Fees paid for an event which is supported by the state / Central Governemnt will be liable for FBT. (For e.g Suppose i an IT Company and paid Sponsorhip fees for organising event regarding IT which is supported by central/state Govt of India.)
15 March 2008
EXPENDITURE ON SPONSORSHIP OF ANY SPORTS EVENT OR ANY OTHER EVENT ORGANISED BY ANY GOVERNMENT AGENCY OR TARADE ASSOCIATION OR BODY IS EXEMPT FROM FBT. SO NO NEED FOR PAYMENT OF FBT.