We issue cash to our employees for food and also we are paying them overtime when they come for work on holidays.It do not reflect in their payslips and is shown as expense reimbursement. Does any of these attract FBT? If it does. I would like to know at what rate is it effective?
Re: FBT
by deepak nair on Jan 07, 2009 12:47 PM Permalink
sir, if the amount paid to your employees is paid everytime as a fixed allowance, it does not attract fbt.
I need to know the tax rate that is applicable for payment or finally payable amount to the IT Authority towards FBT . that is the rate eg FBT(rate), Educational Cess and Surcharge.
I thank you for giving me such an opportunity to contact with you ours is newly started private limited company i would like to know about tds,e return,fbt
