FBT on tour and travel conveyance

This query is : Resolved

thyagarajan (Querist)
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15 September 2008 Query No.:1

Pl clarify the rate of FBT for the following expenses

1. Travel Fare (Bus/Train/Air)
2. Conveyance (usage of Taxi/Auto/2 wheeler)
3. Boarding & lodging - reimbursement or fixed allowance

Query No.2
Whether usage of Taxi or Auto can be ocnsidered as Travel Fare?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 September 2008 If you mean the value of fringe benefits it is as follows.

1.5%
2.20%
3.20%

On the other hand ,if you mean the tax rate it is 33.99%on the value of fringe benefits to be calculated at the above said %.

thyagarajan

thyagarajan (Querist)
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15 September 2008 Pl accept my sincere thanks for prompt reply.

Pl clarify

a) What exactly is conveyance expenses.
b) Is it 30.9 or 33.9%

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thyagarajan

thyagarajan (Querist)
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15 September 2008 Pl accept my sincere thanks for prompt reply.

Pl clarify

a) What exactly is conveyance expenses.
b) Is it 30.9 or 33.9%

Yatesh Prakash Renuke

Yatesh Prakash Renuke (Expert)
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15 September 2008 Dear Thyagarajan,

The value for FBT is 20% of total expenses incurred & The tax rate is 33.99%.

Regards'

Yatesh Renuke.

Taxguy

Taxguy (Expert)
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15 September 2008 Tax is at 33.99% on 20% of the expdniture.

There are a few good FBT calculators in the Share files section , they can handy to you. Download them.