01 December 2007
A company provides Transportation allowance to employees which is exempt under Section 10 to the extent of Rs.800 P.M. in the hands of the employee. Whether the Company has to pay FBT on the transportation allowance given to its employees?
03 December 2007
Mr Prveen Chopra's Observation is correct. You may also refer Para 224.4.8 of 30th edition of the Singhania's Direct Taxes Ready Reckoner