Found a Helpful FBT Chart Online – Could This Be Useful for Your Work?

Hi guys,

I found this chart on the net. Hope it helps :)

Regards, Nupur

MDI, Gurgaon

Hi all,

I would like to add something to this, a consolidated version.

Regards,
AJ

Nupur and ThinkJobs have delved into the FBT details so well that all doubts have been properly cleared. This is very useful for practicing CAs like us.

Thanks,
Gopan

Hi all!

Kindly suggest to me the tax implications on the employee's part as well as on the employer's part regarding the following salary structure:

Situation 1- Gross salary Rs. 50,000
Basic 20,000
HRA 40% of basic 8,000
Children Education Allowance 200
Medical Allowance 1,250
Transport Allowance 800
Vehicle maintenance allowance 1,600
Gift in Kind 416.68
Telephone bill reimbursement 1,500
Meal Vouchers 1,500
Entertainment allowance 7,500
Books and periodicals 3,000
Special Allowance remaining 4,233.34

Kindly inform how much the employee will pay and how much the employer will pay with the above structure.

Thanks & Regards,
Arpita