FBT Liability

[Guest]

A CA firm paid to NIRC Fees for the year for participating in all study group meetings & Seminars under CPE scheme by its working partners. As the partners are not employees, s the participating fees be liable for FBT ??

[Surender Gupta]

From the meaning of Fringe Benefits u/s 115WB, apparently it appears that the amount paid to NIRC for participating in all study group meetings and seminars should not be treated liable to FBT.

AI Summary

Fees for Partner Seminars Not Subject to Fringe Benefit Tax Under Section 115WB, Clarifies Inquiry A CA firm inquired whether fees paid to NIRC for partners' participation in study group meetings and seminars under the CPE scheme are subject to Fringe Benefit Tax (FBT), given that the partners are not employees. The response clarified that, based on the definition of fringe benefits under section 115WB, these payments should not be considered liable for FBT.