Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Would contributions to approved gratuity fund or provident fund attract FBT?

April 26, 2017Approved contributions fbt fund gratuity Provident

0

Posted

Would contributions to approved gratuity fund or provident fund attract FBT?

1 Answer

0

Posted

Section 115WB read with section 115WC does not specifically contain any provision for chargeability of contribution to approved gratuity fund or provident fund to FBT. Accordingly, the contribution to the aforesaid funds would not attract levy of FBT.