FBT
This query is : Resolved
19 June 2009
Whether FBT is Applicable on employees cab facility expenditure if so under which head?
What will we Do if the ledger has no segragation on car hired for other travel and for employees pick up and drop? Under which head it is to be taken then?
What will we Do if the ledger has no segragation on car hired for other travel and for employees pick up and drop? Under which head it is to be taken then?
CA Hemant T Dewani
(Expert)
19 June 2009
under motor car expenditure if employees are picked from home & drop then fbt is not applicable
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19 June 2009
what if the ledger has no segragation regarding the car hired for other travel and pick up and drop from home...
its accounted together in one ledger
its accounted together in one ledger
Ratan Sharma
(Expert)
19 June 2009
You will have to make the segragation otherwise FBT will be applicable. Even if there is no segragation in ledger just segragate on a seprate register and pay FBT accordingly. There is no need to maintain seprate ledger account.
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19 June 2009
the problem is the company providing cab service only is providing other car hire services for travel related to business,they'll give the bill together,it can be for employees Pick up and drop or for other travel..so as there is no segragation inthe bill itself, how can we segragate it in a seperate register?
06 April 2012
FBT has been abolished. Accordingly, this query is not relevant anymore.
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