Whether expenses done by school for annual day function will come under Entertainment Expenses and liable to FBT?
15 Replies
Pavan Jain S
(Chartered Accountant)
(1575 Points)
Replied 27 March 2009
In what category is the school assessed -Whether it claims exemption u/s 12?
Abhishek Ved
(Manager SS)
(37 Points)
Replied 27 March 2009
Yes , FBT will be Applicable u/s 115WB Sub section 2L
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 27 March 2009
Yes, The scholl will be liable to pay FBT on entertainment expenses.
deepak K Gujrati
(CA-practice)
(966 Points)
Replied 27 March 2009
No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities.
deepak K Gujrati
(CA-practice)
(966 Points)
Replied 27 March 2009
No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities.
deepak K Gujrati
(CA-practice)
(966 Points)
Replied 27 March 2009
No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities.
Tushar Yerawar
(Media & Entertainment)
(205 Points)
Replied 30 March 2009
| Originally posted by :deepak K Gujrati | ||
| " | No, I dont think annual function expenses by any school is an entertainment expenses. Anuual function in a school is not meant for entertainemnt of school children or parents. Its a part of school studies and activities. | " |
Yes. These expenses will attract FBT. Though the annual function isa part of curriculum it is not mandatory for school to conduct the same.
sudhir Chaurasia
(B.com ca (final) articel)
(83 Points)
Replied 30 March 2009
refer to tushar yerawar and deepak k gujrati
CA Karun Gupta
(Practicing Chartered Accountant)
(312 Points)
Replied 01 April 2009
Yes, entertainment expenses would be liablre to FBT even if it is a part of the curriculum or not. As, FBT has deemeing provisions for entertainment expenses, and thus actual purpose is irrelevant. Therefore it is deemed that 20% of the total entertainment expenditure is liable for FBT.
Vinay Chopra
(CA )
(197 Points)
Replied 02 April 2009
Yes it will be liable to FBT, under Employees Welfare @ 20%,
Thanks
DASU NARESH
(Internal Audit Manager)
(31 Points)
Replied 11 June 2009
whether free samples are exmpted from FBT?
Atul Sharma
(Senior Executiteve(Internal Auditor))
(31 Points)
Replied 23 June 2009
Yes FBT will be aplicable on 20% of expenses
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