Relocation Expenses attracts FBT
This query is : Resolved
26 November 2008
Whether relocaion expenses paid by the employer to employee to relocate from the place of residence or any other place to the place of office attracts FBT.
If, so under which caegory it attracts?
If, so under which caegory it attracts?
27 November 2008
It attracts FBT u/s 115WB(1) alternatively it can be taxed in employee hand.
27 November 2008
accordng to the provsons of Sec 10(14) of the act read with Rull 2BB, Any allowance (by whatever name called)granted to meet the cost of travel on tour or on transfer (ncluding any sum incurred paid in connecton with transfer, packing and transportation of personal effects on such transfer) is exempt to the extent of actual expendiure incurred for the said purpose.
Accordngly, the relocation expenses are exempt in the hands of employees.
so, is it attracts fbt u/s 115WB(1)?
Accordngly, the relocation expenses are exempt in the hands of employees.
so, is it attracts fbt u/s 115WB(1)?
27 November 2008
The relocation allowance referred in the query,if it is paid in connection with transfer of the employee,will come u/s 10 (14). In other cases section 115WB(1)(a) attracts. You are also requested to see question no 47 in circular no 8/2005 dated 29/08/2005.
27 November 2008
the relocation expenses mentioned in he above query will come u/s 10(14)(i)
question no 47 in crcular deals with the provsons u/s 10(14) sub clause (ii).
So, please clarfy whether attracs FBT or not?
question no 47 in crcular deals with the provsons u/s 10(14) sub clause (ii).
So, please clarfy whether attracs FBT or not?
28 November 2008
OK. Now you say that the said relocation allowance comes under section 10 (14)(i).So exempted in the hands of employee. FBT provisions attract.
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
