fbt
This query is : Resolved
pradeep sethia
(Querist)
17 February 2009
Interest is paid on Car loan Whether FBT is applicable or not
Please advice me as early as possible
Please advice me as early as possible
CA Tilak Raj Sharma
(Expert)
17 February 2009
Yes, FBT is applicable u/s 115WB(2)(H).
Ram Avtar Singh
(Expert)
17 February 2009
Whether expenditure by way of interest on loans taken for purchase of cars is liable to FBT?
Interest on loans taken for purchase of cars falls within the scope of clause (H) of subsection (2) of section 115WB relating to repair, running and maintenance of motor cars. Accordingly, expenditure by way of interest on loans taken for purchase of cars is liable toFBT
Interest on loans taken for purchase of cars falls within the scope of clause (H) of subsection (2) of section 115WB relating to repair, running and maintenance of motor cars. Accordingly, expenditure by way of interest on loans taken for purchase of cars is liable toFBT
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