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FBT

Viswamohan (Micro Finance) (44 Points)

22 January 2009

If an employee incurred some expenses regarding travel out ot the city and within city for office purpose and the same has been claimed. Will the same expenses attract FBT, if so what is the rate?

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8 Replies

reshu agarwal (practice) (22 Points)
Replied 22 January 2009

no it will not attract FBT because it is the reimbursement by the employer which do not attract FBT

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Jagdish Bhalia (Practicing CA) (453 Points)
Replied 22 January 2009

Yes. As per section 115WB(2)(F) all tour and travel expenses though incurred by the employee for official purposes shall be a deemed F.B. The value of such F.B. shall be 5% of such expenses.

Sripada M (CA) (365 Points)
Replied 23 January 2009

Yes, FBT is applicable...!!!

For Conveyance -20%

For Tours and Travels(including Foreign travel) - 5%

Ashish M (Chartered Accountant) (2731 Points)
Replied 23 January 2009

yes ...........Mr. Sripada M is right...............

Jitender (Chartered Accountant) (8724 Points)
Replied 24 January 2009

fbt is applicable and value will be :-

conveance (within city) 20%

travelling (outside city) 5%

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sumeetjeswani (student) (73 Points)
Replied 29 January 2009

Yes. As per section 115WB(2)(F) all tour and travel expenses though incurred by the employee for official purposes shall be a deemed F.B. The value of such F.B. shall be 5% of such expenses.

umamaheswar (Executive Accountant) (27 Points)
Replied 30 January 2009

Originally posted by :Viswamohan
"	If an employee incurred some expenses regarding travel out ot the city and within city for office purpose and the same has been claimed. Will the same expenses attract FBT, if so what is the rate?	"