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Is FBT recoverable from employees

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(Querist)
03 January 2009 Can a company recover FBT from its employees on expenses such as conveyence, travel exps, and other FBT related exps except ESOP?
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
03 January 2009 if you are recover the same from your employee then it is your income but this deductions are not available to your employee only conveyance is deducted restricted to rs 800 or 1600(for handicap) no other deduction is available to your employee
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
03 January 2009 No, it is the liability Employer to pay FBT. However if you will recover from emplyees then it should be treated your income.
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K V Subba Rao

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K V Subba Rao (Expert)
03 January 2009 Wonderful idea, but our FM wouldn't appreciate
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Aakhri Pasta

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Aakhri Pasta (Querist)
05 January 2009 If the same is treated as income , please clarify which section of the Income Tax Act provides as such?
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Aakhri Pasta

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Aakhri Pasta (Querist)
12 March 2009 No Reply

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