Fringe Benefit Tax
This query is : Resolved
02 March 2009
Dear all,
We have reimbursed a sum of Rs.1,35,00 to one of our employees for notice period pay to his previous employer. Does this attract FBT , if so what is the percentage? Does it become Income for the purpose of calculation of tax for the employee?
We have reimbursed a sum of Rs.1,35,00 to one of our employees for notice period pay to his previous employer. Does this attract FBT , if so what is the percentage? Does it become Income for the purpose of calculation of tax for the employee?
02 March 2009
It is taxable in the assessment of employee; hence no FBT
By the way, in these days of recession also, is the practice of reimbursing Notice Pay still continuing !
By the way, in these days of recession also, is the practice of reimbursing Notice Pay still continuing !
02 March 2009
No FBT on this reimbursement. It is in the nature of salary and taxable in the hands of employee only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
