Re:FBT on car insurance

Gaurav Gupta (In Practice) (13 Points)

22 July 2007  
Friends in one of the "Resolved Expert Query" it has been said by one of the expert that insurance charges are liable to FBT , however, accordinng to Taxmann's publication - Guide To Fringe Benefit Tax Fbt is not leviable on insurance charges ...it cannot be considered as repair or running charges