Ho to calculate FBT ? Which Exepense heads are comes under
the category of FBT ? What is th e slab or rate ?
- 11 Answers
- 20872 Views
- Ambe Consultancy, Infosys, OPI Global, TCS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ajay s. chaurasia
FBT Stand for Fringe Benefit Tax. Fringe Benefit Tax on the
value of certain fringe benefits provided by employers to
their employees to be abolished.
Followings are the expenses on which FBT imposed with Tax
Rate / Slab
Expenses Tax Rate
Use of telephone (other than leased lines) 20%
Entertainment 20%
Scholarship to children of employees Actual 50%
Hospitality 20%
Maintenance of accommodation like guest houses 20%
Conference 20%
Employee welfare 20%
Sales promotion, including publicity 20%
Festival celebration 50%
Gifts 50%
Use of club facilities 50%
Useof health clubs,sports & similar facilities 50%
Conveyance, tour and travel,
including foreign travel 20%
Hotel, boarding and lodging 20%
Repair, running (including fuel), maintenance of motorcars
and depreciation thereon 20%
Repair, running (including fuel), maintenance of aircraft
and depreciation thereon 20%
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / shobhit_agarwal08
it basically depends on which category the expense is
included.there are three categories under which the expense
are included.
u have to refer section 115WB of income tax for it
all expense heads except printing and stationary comes under
the ambit of FBT.
the slab rate of FBT is 33.99%
| Is This Answer Correct ? | 13 Yes | 8 No |
F.B.T is Fringe Benefit Tax
Means
Conveyance
Travelling
Welfare
Promotion
Rate is - 33.99%
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / manish kumar
in travelling conveyance ho to calculate fbt.
and i want to know that as 20%,5%,any other percentage
calculation for fbt
| Is This Answer Correct ? | 9 Yes | 6 No |
Answer / shah gaurav
TELEPHONE
2.CONVEYANCE
3.BUSINESS PROMOTION
4.STAFF WELFARE
5.VEHICLE MAINTANCE (ONLY FOR 4 WHELLER)IT MEANS CARS
6.TOURS AND TARVELS
SLAB RATE 20% & 33%.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / r.muthu kumar
1) TelePhone Bill
2) Conveyance
3) Business Promotion
4) Staff Welfare
5) Vehicle Maintanance (only for 4 Wheel)
6) Tour and Travels
Slab 20 % & 33 %
| Is This Answer Correct ? | 1 Yes | 0 No |
Hi can any one tell me why the form no 16 a are used and When, where and how to submit it ?
Hi,when we pass a clearing entry of paid and unpaid tax how do we show the business area the way the business area can be seen.is there any change that i have to do in the configuration of this GL.my client wants that the business area also reflects when we post the gl.please help.
what is the tretment if we paid service tax wrongly in different service tax head ex. commissioning , repairs & maintenance.our liability for commissioning but we paid some into repairs & maintance . what can i do in this situation
i have purchase 2no. air conditioner & some other f\a for office & pay vat according to bill can i take inpute vat banifits in the quater returns what is the process for taKEN BENFITS OF VAT.
what is the last date of TDS retur filling
please send me andhra bank clerk xam model papers
Type of form use in sales Tax
What are the exemptions from salary
10 Answers Influx Info Solutions,
What is the present Central sales tax rate in India? Also let me know the maxium and minium sales tax rate in India.
34 Answers ABC, Defence Accounts Department, New Trends, Unique Software Systems,
what is bank reconcillation statment,balance sheet,thumb rules of accounts,depreciation?
Can any one clearly difine what is Works Contract with suitable exemple
interest paid to bank rs.15000 in conection with statutory income tax proceedings.
Audit 
