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hemal (a)     20 December 2008

FBT

 

 Is FBT applicable on School Activities expenses

 



Learning

 2 Replies

A V Vishal (Advocate)     26 January 2009

 


115W. In this Chapter, unless the context otherwise requires,

(a) employer means,

(i) a company;

(ii) a firm;

28[(iii) an association of persons or a body of individuals, whether incorporated or not;]

(iv) a local authority; and

(v) every artificial juridical person, not falling within any of the preceding sub-clauses:

29[Provided that any person eligible for exemption under clause (23C) of section 10 or registered under section 12AA or a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951) shall not be deemed to be an employer for the purposes of this Chapter;]

(b) fringe benefit tax or tax means the tax chargeable under section 115WA.

sreekanth (Assistant Manager- Taxation)     06 December 2013

Please Note that "Fringe Benefit Tax" is abolished &  Not Applicable after Financial Year 2009-10 / Assessment Year 2010-11.

Anyhow You Can Get all the Data Required on Fringe Benefit Taxes on this Link:https://www.exploreincometax.com/Indian-Income-tax-Group/Section-115W-to-115WM


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