10 July 2008
For levying of FBT the employer employee relationship is a must.
Keeping the above statement in view what is the position of Auditors (Statutory & Internal)and Independent Directors.
Board Meeting is a statutory meeting of the Company and Independent Director is not an employee of the Company, So whether fare (travelling) & conveyance (taxi) provided to the independent Director for attending the BM is liable to FBT
CAclubindia
