Is a company directors foriegn trip for business promotion liable for fringe benefit tax If yes then how?

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Is a company directors foriegn trip for business promotion liable for fringe benefit tax If yes then how?

2006-11-28 15:16:32 · 3 answers · asked by SHARAT 1 in Business & Finance ➔ Taxes ➔ India

3 answers

NO.
FBT is levied only on those fringe benfits which are shared by company with the employees.

2006-11-28 18:54:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋

Following points need your attention
1. If the tour is purely for business purpose , it shall not fall under FBT because what will fall under FBT is any payment which is for the benefit of the Employee.
2. Under Section ,115WC [1][c], the value of fringe benefit out of tour expense shall be 20% in respect of conveyance including foreign travel.

2006-11-29 09:56:05 · answer #2 · answered by q4tax 3 · 0⤊ 0⤋

yes about his slabe

2006-11-30 02:39:00 · answer #3 · answered by vyasji 1 · 0⤊ 0⤋