Liability of FBT

[Adoni Raghavendra]

Whether Sponsorship Fee paid liable to FBT? and also please send me the latest expenses list which are liable to FBT ?

[Surender Gupta]

Please refer to section 115WB of the Income Tax Act, 1961 which prescribed the expenses to be included or excluded from the FBT. Sponsorship of sports event or any other event organised by any Government agency or trade association or body is excluded from the scope of FBT.

Yes, if not excluded u/s 115WB, the same is taxable.

AI Summary

Fringe Benefit Tax: sponsorship fees for events organised by government agencies or trade associations are excluded; otherwise taxable.
Fringe Benefit Tax liability for sponsorship fees turns on statutory exclusions: sponsorship of events organised by government agencies, trade associations, or similar bodies is excluded from FBT; if a sponsorship payment does not qualify for those exclusions, it is taxable as a fringe benefit.